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4th July 2024 Guide to Industrial Property Investment in Malaysia If you are considering investing in real estate and are interested in commercial properties, industrial property is a lucrative field to explore! Comprehensive Guide to Industrial Property Investment in Malaysia Understanding Industrial Property Industrial properties include warehouses, factories, depots, manufacturer’s storage, logistics and distribution centers, and showrooms. These properties are often inexpensive to own and operate, providing stable cash flow with long-term tenancies, unlike residential properties. Steps and Approaches for Investing in Industrial Property 1. Define Your Investment Purpose Understanding the purpose of your industrial investment property is crucial. Ask yourself the following questions: Will you occupy the property yourself? Do you want to find a long-term tenant? Or do you want to upgrade and sell the property? Communicating your intentions clearly to vendors, agents, and most importantly, to yourself, facilitates a smooth investment process. 2. Investment Site Attributes ndustrial properties near key transport nodes are more desirable to occupiers and the tenant supply chain. Greater KL, Shah Alam, Klang, and Petaling Jaya are top areas in Malaysia with good transport links and strong attractions for reputable businesses. These areas benefit from the availability of infrastructure, labor force, market accessibility, and proximity to financial services and regulatory bodies. Properties with an optimal office space to factory ratio (circa 30:70) and a simple configuration are most desirable. Space flexibility is key to appealing to a wider tenant mix and reducing vacancy risks. According to Edgeprop, the top 10 preferred industrial property features include: Gated and guarded facilities Ample and stable utility supply 24/7 security Good data and internet access Proximity to ports and transportation centers Good neighborhoods Close to supply chains Near workers' dormitories Accessible public transport Proximity to workers' homes 3. Staying Active in the Industrial Property Market To stay informed about the industrial property market in Malaysia, engage property agents, view listings online, read market research reports and news, and attend auctions. These measures help keep all information at your fingertips and keep you on track with the industrial property value in Malaysia. 4. Secure Your Income Carefully review your potential tenant’s payment and financial history to ensure continuous rent payments. Understanding the needs of your tenants and ensuring the space complements their business needs is crucial. Holding a security deposit (usually 3 months' rent) can mitigate any damage the tenants may cause. Industrial property tenants usually sign leases ranging from 3 to 10 years, providing secure rental income throughout the investment horizon. According to the CBRE Real Estate Market Outlook Report 2022, the industrial sector remains active, with continued growth in eCommerce driving demand for warehouses, especially those with modern purpose-built facilities. 5. Understand Industrial Property Metrics Familiarize yourself with key industrial property metrics, including the capitalization rate (Cap Rate). The Cap Rate indicates the percentage of annual return produced from the property, giving you an idea of how long your investment will take to pay off. 6. Set Your Parameters Align your expectations and identify the stakeholders you will deal with, including rental spaces, business partners, lawyers, state authorities, property agents, and others. This ensures a smooth deal process. 7. Lifespan of the Industrial Property If you purchase large and older warehouses or factories, set aside a budget for renovation and repairs, such as new electrical systems and roof repairs. 8. Environmental Considerations Be cautious of potentially hazardous waste problems.
Authorities can hold you accountable for issues caused by previous occupants, resulting in significant costs. What My Industrial Specialist Can Do for You Drawing on industry knowledge and leveraging an extensive agent network, we guide you through all processes in investing in industrial properties. From understanding your goal for the purchase, assessing investment site attributes, and closing the deal, our team provides sector-focused advice on transactions to achieve strategic growth objectives for your business. We are experienced in helping businesses evaluate strategic alternatives in the context of property transactions. Reach out to us at myindustrialspecialist.com for more insights and support in achieving your investment objectives.
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luccavudor1 · 1 year
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How Can You Benefit From Buying Womens Shoes Online
Time is precious. Visiting the high street takes time. Online shoe shopping saves time. Currently there is an endless choice of shoes for a woman to choose from, some at hugely affordable prices. There really can't be any reason why a woman can't make herself feel fabulous by treating her feet with the newest!
Shoes can often be purchased at cheaper prices by browsing the net and buying shoes online. All the shoe colors, designers, styles and types are lright at your fingertips. The experience is far more pleasureable and easier than fighting at theparking lot and trawling around the shops often only to see that you aren't able to find precisely what you are looking for. Womens Shoes shopping online offers so much choice, quick access to online shoe stores and designers that don't often feature in stores on your doorstep or even in a town near by, a leisurely shopping experience and also lets you to check prices in more detail. Never underestimate the power of womens shoe shopping on the internet. women walking shoes singapore
Here is a basic guide and some points to think about when you need to buy womens shoes online:
Make Sure You Know Your Shoe Size.
It's definitely best to have an idea of what size your feet are before you start browsing in order to speed up the process. Know your size for both UK, US and the European sizes.
Plan Ahead.
Plan ahead if you are purchasing shoes on the internet as delivery times may be different from shop to shop. Lack of forward planning will inevitably result in extra costs for a speedy delivery . If the shoe is for a special occasion it is even more important that you think ahead when buying off the internet. women walking shoes malaysia
Have an Idea What You Want to Purchase
It is useful to have an idea of what type of shoe you are looking for will help speed up your purchasing experience on the internet. Be precise about the type of colour, designer, shoe type and the country you are searching in. Adding these criteria to your search will aid the search engines to better match your choice. If you are just browsing then you can make the search more general. Once you have made your search you should then have a list of retailers from which to start browsing to make your choice. Most of the shoe retailers will offer new shoes. The benefit of this is that they will more often than not have the shoe of your choice in stock in your shoesize, however if you are looking for a cheaper option don't forget about shoe auction sites as you can often bag a bargain at far below the usual retail price, this applies especially to designer shoes...makig bids online can often be fun also...especially if you win!
Look At the Retailers Delivery and Returns PolicyBefore you Commit.
Because you can't try the shoes on at the point of sale, when you have browsed the retailers of your choice and chosen ensure you are aware of their returns and delivery policy, this applies to auctioned items also. Many online shoe shops offer FOC delivery, or if not then foc over a certain purchase amount. Many retailers also offer free returns should the shoes not fit properly. If they don't offer free returns it may be worthwhile considering purchasing the shoes because of the hassle of not having to tramp the high street.
Make Sure That Payment is Made Over a Secure Connection.
Checking out online has never been easier these days. You can open a PayPal account which means you don't have to input credit card details over the net. PayPal is considered one of the most secure methods of payment online. Check also that the page that opens for the transaction starts with '[https://..].' as this indicates that you are using a secure connection. Be aware also that many online retailers don't often deliver to an address other than that shown on the billing details of the credit card. comfortable women shoes singapore
Testing the Shoes Out When They Arrive
When your shoes have been delivered then make sure you try them on later in the day as feet tend to swell a bit towards the end of the day. Wear them around the home. Avoid going outside until you are confident that the shoes are fit you correctly. If you are unsure about them then send them back as this will prevent you feet, and your wallet many aches and pains! Do
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trustedgaming · 2 years
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The 5-Second Trick For BK8 Malaysia
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Having a reliable online sports betting strategies can construct a great supplement to one's daily income and the rise of online sportsbooks gives bettors a topic to make their gambles. The first step is finding correct online sports book. Therefore many many choices, research the Sportsbook you have been waiting at. Find out what it requires to deposit money, what information they will need, and maybe some feedback on that sportsbook from sports betting message hoop. OnBling features Hot Dice, Boy King's Treasure and Blackjack as the hottest games online. We enjoy playing Hot Dice, featuring a hellish fire theme, in addition slogan "You're on condemnation!", to keep you rallied up during your slot journey. OnBling is also known for their slots tournaments, where players like doable ! all play in a tournament for your big win! BK8 Malaysia Baccarat - the player can elect to bet as either tie or banker or gambler. It is popularly known since the non-violent bet on cards had been popularly spread all throughout Europe. Play in the good Online Casino. It is very important that your chosen site is licensed. Confirm that it meets the approval of people who investigate the online casino and responsible in legit. It should be audited and publishes payout reports. The time for very own sake. Let us say you win, how would you like get funds? It will turns to free (laugh). You must pick one established a healthy standing and uses software develops from a reputable model. All reputable betting sites will supply you with a refund on your membership fee if you're satisfied. Whoever else got to lose? For a one-time fee, you'll be provided access to better picks. You're increasing your odds of placing winning bets. It will be easier to get much more enjoyment through watching simple . sports. You're even a few additional perks by checking on one of these BK8 Malaysia systems, rather than relying on free online sports betting sites. First, find the games you want to play, an online search engines like google like Google. Enter a relevant search phrase, like "online casino slot game", or "download online casino game". This will most likely give a big list of websites you can examine. Each online casino bb will have a ranking of casinos listing their bonus amounts and other promotional ideas. They will rank them from the best to most rotten. The rankings are based about their bonus amounts and exactly overall feel of the casinos. Gives you a great choosing whichever casino that appeals to you as the online casino bb has probably double checked to retain all of your all the casinos for auction on their site is good. Also check to determine if they have listed any special bonus codes that you can use to obtain some free money perform with or they might give that you just deposit bonus where they will either match your deposit, or give you some more money on your initial bk8 malaysia contamination. For More Details Visit Here : Email us [email protected]
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bidmyasset · 2 years
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A lot of people all around the world have various assets which they want to sell for the maximum price possible and this is achievable by selling the product in an online auction. Online auctions not only fetch the highest amount of money but are also very convenient.
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hondahrvprice-blog · 4 years
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Buying Cars - Learning Some recommendations to Avoid Being a Victim involving Fraud
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honda hrv malaysia promotion
Buying your wish car can sometimes be a major problem instead of an excitement specifically if you do not know what to check in purchasing. Of course , many sellers may want to make their cars aceptable and appealing for any consumer and at some point, they can want to exaggerate something or maybe dress up that old and difficult to manage vehicle that may give you head pain later.
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If you want to learn how to get cars that will give you full satisfaction, especially when you are buying employed cars and especially if you are getting in online auctions, here are a few stuff that you might find useful.
- Realize if the warning signs. There may be indicators that you can find in these bogus car selling transactions also because you are too excited to the item, you may end up blinded by these telltale indications of possible scam and scammers. As you will be spending a big amount for your car, its indeed important to scrutinize every little thing before finally saying you will it. Read on to find out another important things on how to buy autos and avoid being scammed.
rapid If the offer is too fine to be true, then you have to an extra effort and time to study why they are selling this so low, or you ought to check how you can
- Require a vehicle history record and ensure you have seen every detail on it. It may well contain accident histories plus the car's mileage and the variety of owners it had in the past. Always be keen on the
and other items that you might want to learn before providing them with your money.
- If you are getting a car online, or you are seeking a car in an online auto auction site, always come up with a rule to see the car in person. Of course , it is quite practical to make note of that you may not be able to check the genuine condition of the car when you are only looking at it on your computer monitor.
- Always test drive the auto. Of course , cars are not exclusively for its appearance but its functionality as well and you can check that first by test operating it. Also take your time about the driver's seat. It may have to have a little get used to before you can when it is indeed comfortable, and so try to take your time in taking stock of the vehicle.
- Never offer a financial information online specifically website is not a guaranteed one. Like any other deals online, it is always advisable to take care of details safe and secure. If you are very interested in your vehicle, always remember the things and the regulations that will help you avoid fraudulent dealers and activities.
Learning some tips on how to buy cars will help you avoid scams along with fraudulent activities.
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klinikar-blog · 6 years
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Your Guide to Buying Cheap Tires
As a vehicle owner you need to be aware of the costs of replacing tires. Although many of them are sold for unreasonably high prices, there are still cheap tires available.
Where to Buy Cheap Motorcycle Tires
Start by visiting the local dealers in the area. There should be more than a few around. Do not forget to check the newspaper. When a dealership has a special offer or discount, it is often published.
You can also buy online of course. Visit several sites so you can compare the offers. Be certain the tires you buy are for that specific motorcycle model. Refer to your owner's manual for info on the size.
You can also try cashback websites. After registering and opening an account, you will be asked to click a link at their site. After that, you can buy the tires and get a discount. You can sometimes get as much as 10% discount.
Auction sites are also good places to buy. Just make sure the seller specifies if the tires are old or new and for what bike model they are for.
Some sites sell used tires. Be careful when you buy these. They may be cheap but you need to check their condition.
Where to Buy Cheap ATV Tires
Before you start, ask yourself what type of ATV tires you are looking for. There are super mud grips, stock tires, extra-large, mud tires etc.
The stock tires are the most basic and they are the cheapest. Mud tires and super mud grips are for muddy terrain. You must choose the tires that fit your needs. Never use stock tires if you will be using the ATV on muddy surfaces.
The best option is to go to your local dealership. Ask if there are discounts. Check out other dealers if yours does not have one. ATV auctions often have deals and discounts on tires and other components.
These events are usually held during the weekends. Call the chamber of commerce in your city and ask about it. Or you may call the convention center.
Important Considerations for Tire Buyers
Determine how many tires need to be replaced. The key is in the treads. If only a couple of the tires are worn out, then there is no need to buy four. However, be certain the tires you get are the same type as the ones being replaced.
For more info:- Buy Cheap Tires in Malaysia
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bidnow · 2 years
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Malaysia Lelong Property  Provider at Reasonable Price
If you are looking for a property provider that offers quality service at a reasonable price, then you should get in touch with Lelong Property. We are a Malaysia property provider that provides our clients with quality services and reasonable prices. Sellers can list their property for free. Lelong Property brings together thousands of Malaysia properties for sale. You can find your dream house easily at Lelong Property. On Lelong Property, you can search and compare the price of thousands of properties in Malaysia. BidNow is a Malaysian property listing site that helps you to find the most convenient and cheapest property for sale or rent in Malaysia.  You can choose from our extensive list of online auction malaysia  and buy your dream home at the best deal available. More Additional Details Visit here :-  
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sellfurnitureonline · 3 years
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Shopping Made Easier With Online Classified Ads
Are you looking to buy any products at a cheaper price? Do you want to know the best among the types of products you are looking for? Online classified ads will be the right choice. Many benefits are offered to you when shopping with online classified ads. The primary benefit of online classified ads is the cost savings because you get a chance to compare the variety of products with its features to best buy the one you need. When you buy through online classified ads, rather than paying before you view the product, you get a chance to know the specifications and to have a look at the product before purchase.
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Buying or selling products in your area is made easy with free local classified ads which offer you the list of available items for sale. Hence this is the simple and popular way for business and other services. Choose the best classified ads website to buy the products using the best deal provided by various sellers. You can browse for whatever products you need in the single website. The results offered by such free local classified ads will be much relevant and so it is the easy way of shopping for anything. With classified ads, you can list the various items, services and even could rent a home. If you are interested in a product, you can simply fill in the form with necessary information.
With such marketing websites, you have to post classified ads describing the product or service you need. The sellers respond to the ads with the different kinds of products available. You come to know of the uses and features of the products by the way the sellers respond to your ads. Then you can choose the seller who offers you the product as per your needs. Each item in the list will have its own description. Go through it carefully before opting to buy. EBay is mostly chosen by people for online auctions as it is popular all over the world. But there are also other alternatives to eBay on the web which can offer you a variety of options for shopping.
Money and time can be saved with these classified ads as the users are getting access to the competitive selling business and would possibly buy the item for a lower price. You can select the seller who offers you the product for the cheaper price. Online classified ads connect the buyers and sellers and best satisfy the needs to buy the specific products. It is simple to register to these sites to enjoy a better buying experience. Transactions between buyers and sellers will be in a reliable way and so classified ads help the consumers with excellent buying experience.
Post Free Ads for Jobs, Services, Mobile Phones, Real Estate, Furniture, Pets, Automobiles and all other services or products.
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bidmyasset · 3 years
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People all around the world buy and sell various products every day. Sometimes those products that are being sold are old and used items and sometimes they are brand new and are manufactured recently. Some products are very essential and are used in everyday life, whereas some other products are mostly for decoration purposes. Selling all these products gives the necessary money that they need.
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bidnow · 2 years
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House For Lelong In Selangor | BidNow
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You've come to the right site if you're looking for a house for lelong in Selangor. At BidNow.my, we give the general public access to all public auction property listings in Malaysia. Because of our advantage as an internet marketing consultant, BidNow.my is more "visible" among online property seekers.
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lemonprdct-blog · 7 years
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DISTINGUISH Associated Articles
The 2010 2015 outlook for domestic retail ecommerce in africa. This enterprise involves consumer based retail sites, auction sites, music websites, enterprise exchanges, buying and selling goods between different stakeholders and numerous services between a variety of corporations. On an adjusted foundation, the corporate broke even per share, whereas analysts were anticipating a lack of 2 cents per share, in accordance with Thomson Reuters I/B/E/S. Shippers, on-line retailers search method round rising supply costs. This yin yang impact amongst international locations may well explain why world eCommerce development grew 22.2% in 2014 and can degree off this yr to 20.9%, and decrease to thirteen.3% progress in 2018 as the market becomes extra saturated. The e-commerce markets in Singapore and Malaysia are comparatively small compared to other Asian markets comparable to China (US$one hundred ninety Bn) and Japan (US$sixty four Bn). This can be a nice record however you are lacking Doptor CMS. By April 1999 that number had skyrocketed to ninety two million of those 60 % had been online shoppers. The main Mobile 500 retailers experienced a sixty eight% growth in 2015, according to the IR report cited above, a tally that amounted to $3 billion in whole. Although the e-commerce market enjoys large growth in both Singapore and Malaysia, cross-border e-commerce still faces some limitations. omega mage x collected about eight,000 distribution and license agreements and gathered information from retailers, manufacturers, value comparability websites, e-commerce platforms and providers of movies, sports activities, fiction, TV and music. Frog CMS relies on the nicely-recognized Ruby on Rails software, and requires PHP5 and both a MySQL database or SQLite with PDO.
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ads4serviceworld · 4 years
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Classified Ads Traffic - Top 5 Classified Ad Locations For Responsive Website Traffic
If you have built your website but are now in need of traffic, what exactly are you supposed to do? Where do you focus your attention when it comes to traffic building? Do you want long-term traffic? Or are you in desperate need of fast traffic? There is a big difference in how you go about getting each.
For this article, let's cover one of the fastest methods of getting traffic to your websites. I am talking about classified ads. Placing classified ads can be quick and easy, expensive or free, depending on your ad, but have been show to be quite effective when done properly.
Classified ads can be run for most any type of service or product, however make sure it's legal and that you check the site rules before posting anything you might wish to sell.
Posting your first classified is easy. Simply sign up for accounts and follow their steps and guidelines. You will need to test your ads, such as your headlines, and your offers for effectiveness. I suggest checking out other ads for products or services similar to your own for ideas before posting.
Here is a list of 5 of the best places to run classified ads.
Craigslist
Craigslist has become the largest server of online classified ads on the Internet. At last count Craigslist gets several billion hits a year. Once nice feature of this site is localization. You can post ads specific to your local market with ease. If you are providing a service, especially one that is not an online service, this makes it much easier to locate customers in your area. Best of all, most ads you can post for free.
Facebook
Facebook marketplace is likely to be the second largest classified advertisement platform online. While Craigslist has grown, there are many people who do not like the format of that site, but everyone loves Facebook. People of all ages are flocking to Facebook everyday. Their classifieds sections are no different. The traffic Facebook ads receive each day can easily range into the millions of hits per day. They claim their ads "reach 800 millions users". Gotta like those odds.
eBay
For the size of eBay, being one of the largest sites on the Internet and by far the largest Auction site, many people are still unaware that you can run classified ads through eBay. eBay has some unique features in that your classified ads can look just like regular listings. This makes it easy to post HTML content and even videos, or if you are accustomed to eBay, since it has been around for a while longer. This might be the reason many people are unaware of eBay classifieds, as it can be difficult to tell a classified ad and an auction listing apart. Yet, they are still generating enormous amounts of traffic with millions of hits a week for classified listings.
USClassifiedAds.com
This is one of the largest actual classified ads sites. Craigslist is considered a Web2.0 Social site, oddly enough. However, this site is purely about service ads. Their primary marketplace is the U.S, however but still can have quite a global impact if you are marketing online services or products. These ads are going to be geared toward those people who are actively browsing classifieds. Whereas even though Facebook gets some much traffic, those users are not usually "actively" looking for advertisements.
Pennysaverusa.com
I love this site. I grew up with a local newspaper called the Penny Saver. Or at least I thought it was local back in the 70's. However, they have taken to the Internet like a pro. One of the best factors about placing classified ads here is that your ads can also be include into their printed versions. They provide regional hard copies for just about every corner of the U.S. This means you not only get traffic increased from Internet users but can also have offline persistence for as long as people hold onto their copy of the Penny Saver.
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bidmyasset · 3 years
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Best Online Auction, Bidding Platform in Malaysia, Brunei, Cambodia, Indonesia, Laos, Myanmar, Philippines, Singapore, Thailand, Vietnam, India, Bangladesh and Pakistan. Our aims to help clients obtain or dispose movable assets at a fair market value.
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ads4service · 4 years
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Classified Ad Traffic - Using Classified Ads To Drive Targeted Traffic To Your Website
There are many websites out there that can easily benefit from an increase of traffic to them. Is yours one of them? I hope so. However, are you using this method to drive traffic targeted to your offers? If not, consider implementing a strategy that includes classified advertising. What are classified ads. Classified advertising is one of the oldest advertising methods available anywhere, online or offline. Why is that? Because they work. But what exactly is a classified ad? Industry "consensus" is that "classified ads" are small, textual ads, which appear in the "classified" sections of newspapers or magazines. These are commonly several lines of text, with little sale copy, and are no longer limited to "hard media" such as magazines. In truth though, just about any ad could be a classified ad. Why use classified ads? There are a couple simple and important reasons to use classified advertisements. Lets look at three main ones: 1: They can be free. Some classified ad services will offer free classifieds depending on what you are selling. In a local newspaper you might get free ads for stuff under $100 for instance. 2: They are persistent. While classifieds are no longer strictly an offline media form of advertising, the offline counterpart is quite a persistent advertiser. They will remain within reach of a potential customer for as long as they own the media source, magazine for instance. This means people who keep older copies will still have access to your advertised product or service even years after initial introduction. 3: They work. There is a reason classified advertisements have been around for so long. They actually work and they do it well. With minimal effort you can test and tweak a single ad until it becomes quite effective. These can easily be tested online until you have a high response rate. People are always looking through classified ads in their paper or online and will continue to do so. Where can you place classified ads. In many cases you can place classified advertisements in just about every news publication, magazine, and many websites online. While you should generally place then in media locations that target niche specific traffic for best results, you can place them anywhere they draw attention and traffic. If you have products or services that span different markets, place ads in both. In addition to print media, online classifieds include everything from auction sites, online news outlets, and specialty classified ads sites. How do classifieds generate traffic. Simply enough classifieds allow a user to either read your ad and contact you directly if they are interested in your ad. Simply include a link to your website for more details. With online media sources the user can simply click the link and traffic will flow to your site. Offline media only means the user has to type in the link to drive traffic your way. While it is one extra step, people who are interested enough in your ad will make the effort.
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brandonfullers · 4 years
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eBay Earnings: Will It Benefit from Social Distancing?
EBay, Daily
eBay (MT4 Symbol: EBAY) is set to report its first-quarter 2020 earnings after the market closes today (April 29). It is attracting added interest from investors as they will get an early look at how the global coronavirus pandemic has impacted the online marketplace. The increasing possibility of company asset sales following the appointment of new CEO Jamie Iannone (formerly COO of Walmart eCommerce), 6 months after abrupt resignation of Devin Wenig, also adds an additional spice to the earnings announcement. The company’s shares are up 8.3% year-to-date.
EBay’s core business is as an online shopping site that allows visitors to browse through available products listed for sale or auction through each company’s online storefront. The impact of the COVID-19 pandemic forced a lockdown and closure of malls as well as retail stores, which has shifted a substantial portion of consumer spending online and sparked an unprecedented increase in e-commerce activity. E-commerce sales have been reported to have climbed at the fastest pace since February (Source: Adobe Analytics). eBay is seen as a direct beneficiary of the current situation and most analystve has raised the target price of the stock.
eBay will report its quarter earnings on Wednesday after hours. The e-commerce giant is expected to report earnings per share of $0.72, up from $0.62 in the prior year quarter. Revenue is projected at $2.32 billion with the growth estimate for the current quarter at 7.5%.
Technical Analysis
It has been an interesting year for eBay shares, after it fell to the lowest price in 2 years to $26 (23rd March) before bouncing back 50% to the highest price of $40.34 on Monday. The upgrade of the stock call from underperforming to neutral by Mizuho Securities helped to fuel the bullish momentum of the share. The eBay share price has risen 8.3% for the year 2020.
From the technical perspective, the trend is currently bullish. The price is positioned higher than the 200 Day Moving Average and 50 Days Moving Average. The share currently trades at $39.31, slightly lower than the 2020 high at $40.34, which also acts as an immediate resistance. The subsequent resistance is at $41.97 (2019 high). The immediate support for the share is at $36.49 which is also near the 200 Daily MA ($36.80). The next support level is at $34.49, near the 50 Daily MA ($34.30).
The share price is on course for having its best performing month in history, with an increase of more than $11 of its share price. The 14-day RSI indicator is currently near the overbought level at 69.60, which signifies strong bullish momentum.
Click here to access the HotForex Economic Calendar
Tunku Ishak Al-Irsyad
Market Analyst
HF Educational Office – Malaysia
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
eBay Earnings: Will It Benefit from Social Distancing? published first on https://alphaex-capital.blogspot.com/
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wikimakemoney · 4 years
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PayPal
Online financial services company based in San Jose, California, US
PayPal’s corporate headquarters in San Jose, California eBay, PayPal, Kijiji and StubHub in Toronto
PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. The company operates as a payment processor for online vendors, auction sites, and many other commercial users, for which it charges a fee in exchange for benefits such as one-click transactions and password memory.
Established in 1998 as Confinity,[10] PayPal had its initial public offering in 2002, and became a wholly owned subsidiary of eBay later that year.[11][12] eBay spun off PayPal in 2015.[13][5] The company ranked 204th on the 2019 Fortune 500 of the largest United States corporations by revenue.[14]
Contents
1 History
1.1 Early history
1.2 eBay subsidiary (2002–2014)
1.3 Spin-off from eBay (2014–present)
1.4 Acquisitions
2 Finances
3 Offices
4 Services
4.1 Business model evolution
4.1.1 Phase 1
4.1.2 Phase 2
4.1.3 Phase 3
4.2 Global reach
4.2.1 China
4.2.2 Crimea
4.2.3 India
4.2.4 Israel and Palestinian Territories
4.2.5 Japan
4.2.6 Pakistan
4.2.7 Turkey
4.2.8 Sri Lanka
4.3 PayPal Giving Fund
5 Digital marketing with PayPal
6 Regulation
7 Safety and protection policies
8 Security
8.1 Security token
8.2 MTAN
9 Fraud
9.1 150,000 PayPal cards frozen
10 Criticism
11 Litigation
11.1 CFPB consent
12 See also
13 References
14 External links
History[edit]
Further information: Timeline of PayPal
Early history[edit]
PayPal was originally established by Max Levchin, Peter Thiel, and Luke Nosek in December 1998 as Confinity,[15] a company that developed security software for handheld devices.[16]
In March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk.[17] Musk was optimistic about the future success of the money transfer business Confinity was developing.[citation needed] Musk and Bill Harris, then-president and CEO of X.com, disagreed about the potential future success of the money transfer business and Harris left the company in May 2000.[citation needed] In October of that year, Musk decided that X.com would terminate its other internet banking operations and focus on PayPal.[18] That same month, Elon Musk was replaced by Peter Thiel as CEO of X.com,[19] which was renamed PayPal in 2001 and went public in 2002.[20][21][22] Paypal’s IPO listed under the ticker PYPL at $13 per share and generated over $61 million.[23]
eBay subsidiary (2002–2014)[edit]
Shortly after PayPal’s IPO, the company was acquired by eBay on October 3, 2002,[24] for $1.5 billion.[18][25][26] More than 70 percent of all eBay auctions accepted PayPal payments, and roughly 1 in 4 closed auction listings were transacted via PayPal.[27] PayPal became the default payment method used by the majority of eBay users, and the service competed with eBay’s subsidiary Billpoint, as well as Citibank’s c2it, Yahoo!’s PayDirect, and Google Checkout.[citation needed]
In 2005, PayPal acquired the VeriSign payment solution to provide added security support.[28] In 2007, PayPal announced a partnership with MasterCard, which led to the development and launch of the PayPal Secure Card service, a software that allows customers to make payments on websites that do not accept PayPal directly.[29] By the end of 2007, the company generated $1.8 billion in revenue.[30]
In January 2008, PayPal acquired Fraud Sciences, a privately held Israeli start-up that developed online risk tools, for $169 million.[31][32] In November 2008, the company acquired Bill Me Later, an online transactional credit company.[33]
By 2010, PayPal had over 100 million active user accounts in 190 markets through 25 different currencies.[34] In July 2011, fourteen alleged members of the Anonymous hacktivist group were charged with attempting to disrupt PayPal’s operations. The denial of service attacks occurred in December 2010, after PayPal stopped processing donations to WikiLeaks. On December 5, 2013, 13 of the PayPal 14 pleaded guilty to misdemeanor and felony charges related to the attacks.[35][36]
The company continued to build its Merchant Services division, providing e-payments for retailers on eBay. In 2011, PayPal announced that it would begin moving its business offline so that customers can make payments via PayPal in stores.[37] In August 2012, the company announced its partnership with Discover Card to allow PayPal payments to be made at any of the 7 million stores in Discover Card’s network.[38] By the end of 2012, PayPal’s total payment volume processed was US$145,000,000,000.[39] and accounted for 40% of eBay’s revenue, amounting to US$1,370,000,000 in the 3rd quarter of 2012.[40]
In 2013, PayPal acquired IronPearl, a Palo Alto startup offering engagement software,[41] and Braintree, a Chicago-based payment gateway, to further product development and mobile services.[42] In June 2014 David Marcus announced he was leaving his role[43] as PayPal President; Marcus joined PayPal in August 2011 after its acquisition of Zong, of which he was the founder and CEO.[44] David Marcus succeeded Scott Thompson as president, who left the role to join Yahoo.[44] PayPal announced that Marcus would be succeeded by Dan Schulman, who previously served as CEO of Virgin Mobile and Executive vice president of American Express.[45]
Spin-off from eBay (2014–present)[edit]
It was announced on September 30, 2014, that eBay would spin off PayPal into a separate publicly traded company, a move demanded in 2013 by activist hedge fund magnate Carl Icahn. The spin-off was completed on July 18, 2015.[46][47][48] Dan Schulman is the current President and CEO, with former eBay CEO John Donahoe serving as chairman.[45] On Jan 31, 2018 eBay announced that, “After the existing eBay-PayPal agreement ends in 2020, PayPal will remain a payment option for shoppers on eBay, but it won’t be prominently featured ahead of debit and credit card options as it is today. PayPal will cease to process card payments for eBay at that time.” [49][50]
On July 1, 2015, PayPal announced that it was acquiring digital money transfer company Xoom Corporation. PayPal spent $25 a share in cash to acquire the publicly traded Xoom, or about $1.09 billion. The deal was closed in the fourth quarter of 2015. The move strengthened PayPal’s international business, giving it access to Xoom’s 1.3 million active U.S. customers that sent about $7 billion in the 12 months ending on March 31, to people in 37 countries.[51][52]
On September 1, 2015, PayPal launched their peer-to-peer payment platform “PayPal.Me”, a service that allows users to send a custom link to request funds via text, email, or other messaging platforms.[53] Custom links are set to be structured as PayPal.me/username/amountrequested.[53] PayPal.Me was launched in 18 countries including United States, United Kingdom, Germany, Australia, Canada, Russia, Turkey, France, Italy, Spain, Poland, Sweden, Belgium, Norway, Denmark, Netherlands, Austria and Switzerland.[54] PayPal had 170 million users, as of September 2015, and the focus of PayPal.Me was to create a mobile-first user experience that enables faster payment sharing than PayPal’s traditional tools.[53]
On May 17, 2018, PayPal agreed to purchase Swedish payment processor iZettle for $2.2 billion. This is PayPal’s largest acquisition to date and the company claims that it is the in-store expertise and digital marketing strength that will complement its own online and mobile payment services.[55]
On March 19, 2019, PayPal announced their partnership with Instagram as part of the company’s new checkout feature, “Checkout on Instagram”.[56][57]
In June 2019, PayPal reported that Chief Operating Officer Bill Ready would be leaving the company at the end of the year. In December 2019, Google announced that Ready would become the new commerce chief.[58]
Acquisitions[edit]
Finances[edit]
For the fiscal year 2017, PayPal reported earnings of US$1.795 billion, with an annual revenue of $13.094 billion, an increase of 20.8% over the previous fiscal cycle. PayPal’s shares traded at over $55 per share, and its market capitalization was valued at over $98.2 billion in October 2018.[84]
Offices[edit]
PayPal Operations Center and main office in Omaha, Nebraska.
PayPal’s corporate headquarters are located in the North San Jose Innovation District of San Jose, California,[40] at North First Street campus.[85] The company’s operations center is located in Omaha, Nebraska, which was opened in 1999.[86][87] Since July 2007, PayPal has operated across the European Union as a Luxembourg-based bank. The PayPal European headquarters are located in Luxembourg and the international headquarters are in Singapore. PayPal opened a technology center in Scottsdale, Arizona in 2006,[88] and a software development center in Chennai, India in 2007.[89] In October 2007, PayPal opened a data service office on the north side of Austin, Texas,[90] and also opened a second operations center in La Vista, Nebraska that same year.[86] In 2011, joining similar customer support operations located in Berlin, Germany; Chandler, Arizona; Dublin and Dundalk, Ireland; Omaha, Nebraska; and Shanghai, China; PayPal opened a second customer support center in Kuala Lumpur, Malaysia, and began the hiring process.[91] In 2014, PayPal opened a new global center of operations in Kuala Lumpur.[92]
Services[edit]
As of 2020[update], PayPal operates in 202 markets and has 305 million active, registered accounts. PayPal allows customers to send, receive, and hold funds in 25 currencies worldwide.[93]
PayPal’s services allow people to make financial transactions online by granting the ability to transfer funds electronically between individuals and businesses.[94] Through PayPal, users can send or receive payments for online auctions on websites like eBay, purchase or sell goods and services, or donate money or receive donations. It is not necessary to have a PayPal account to use the company’s services.[94] PayPal account users can set currency conversion option in account settings.[95]
From 2009 to 2016, PayPal operated Student Accounts, allowing parents to set up a student account, transfer money into it, and obtain a debit card for student use. The program provided tools to teach how to spend money wisely and take responsibility for actions.[96][97] PayPal discontinued Student Accounts in August 2016.
In November 2009, PayPal opened its platform, allowing other services to get access to its code and to use its infrastructure in order to enable peer-to-peer online transactions.[98]
In 2007, PayPal acquired the online credit product Bill Me Later, Inc., which has since been rebranded as PayPal Credit and provided services for Comenity Capital Bank, the lender of PayPal Credit accounts. Founded in 2000, Bill Me Later is headquartered in Timonium, Maryland, with additional offices in Hunt Valley, Maryland; Chandler, Arizona; and San Francisco, California. PayPal Credit offers shoppers access to an instant online revolving line of credit at thousands of vendors that accept PayPal, subject to credit approval. PayPal Credit allows consumers to shop online in much the same way as they would with a traditional credit card. The rebranding of Bill Me Later as PayPal Credit also means that consumers can use PayPal Credit to fund transactions virtually anywhere PayPal is accepted.[99] In 2015 PayPal agreed that PayPal Credit would pay a $25 million fine to settle a complaint filed in Federal Court by the Consumer Financial Protection Bureau.[100]
The PayPal app is available online or at the iTunes App Store and Google Play. One year after acquiring Braintree, PayPal introduced its “One Touch” service, which allows users to pay with a one-touch option on participating merchants websites or apps.[101]
On November 28, 2011, PayPal reported Black Friday brought record mobile engagement including a 538% increase in global mobile payment volume when compared with Black Friday 2010.[102]
In 2012, the company launched “PayPal Here”, a small business mobile payment system that includes a combination of a free mobile app and a small card-reader that plugs into a smart phone.[103]
PayPal launched an updated app for iOS and Android in 2013 that expanded its mobile app capabilities by allowing users to search for local shops and restaurants that accept PayPal payments, order ahead at participating venues, and access their PayPal Credit accounts (formerly known as Bill Me Later).[99]
Business model evolution[edit]
PayPal’s success in users and volumes was the product of a three-phase strategy described by former eBay CEO Meg Whitman: “First, PayPal focused on expanding its service among eBay users in the US. Second, we began expanding PayPal to eBay’s international sites. And third, we started to build PayPal’s business off eBay.”[104]
Phase 1[edit]
In the first phase, payment volumes were coming mostly from the eBay auction website. The system was very attractive to auction sellers, most of which were individuals or small businesses that were unable to accept credit cards, and for consumers as well. In fact, many sellers could not qualify for a credit card Merchant account because they lacked a commercial credit history. The service also appealed to auction buyers because they could fund PayPal accounts using credit cards or bank account balances, without divulging credit card numbers to unknown sellers. PayPal employed an aggressive marketing campaign to accelerate its growth, depositing $10 in new users’ PayPal accounts.[104]
Phase 2[edit]
Until 2000, PayPal’s strategy was to earn interest on funds in PayPal accounts. However, most recipients of PayPal credits withdrew funds immediately. Also, a large majority of senders funded their payments using credit cards, which cost PayPal roughly 2% of payment value per transaction.[citation needed]
To solve this problem, PayPal tailored its product to cater more to business accounts. Instead of relying on interests earned from deposited funds, PayPal started relying on earnings from service charges. They offered seller protection to PayPal account holders, provided that they comply with reimbursement policies. For example, PayPal merchants are either required to retain a traceable proof of shipping to a confirmed address or to provide a signed receipt for items valued over $750.[citation needed]
Phase 3[edit]
After fine-tuning PayPal’s business model and increasing its domestic and international penetration on eBay, PayPal started its off-eBay strategy. This was based on developing stronger growth in active users by adding users across multiple platforms, despite the slowdown in on-eBay growth and low-single-digit user growth on the eBay site. A late 2003 reorganization created a new business unit within PayPal—Merchant Services—to provide payment solutions to small and large e-commerce merchants outside the eBay auction community. Starting in the second half of 2004, PayPal Merchant Services unveiled several initiatives to enroll online merchants outside the eBay auction community, including:[104]
Lowering its transaction fee for high-volume merchants from 2.2% to 1.9% (while increasing the monthly transaction volume required to qualify for the lowest fee to $100,000)
Encouraging its users to recruit non-eBay merchants by increasing its referral bonus to a maximum of $1,000 (versus the previous $100 cap)
Persuading credit card gateway providers, including CyberSource and Retail Decisions USA, to include PayPal among their offerings to online merchants.
Hiring a new sales force to acquire large merchants such as Dell, Apple’s iTunes, and Yahoo! Stores, which hosted thousands of online merchants
Reducing fees for online music purchases and other “micropayments”
Launching PayPal Mobile, which allowed users to make payments using text messaging on their cell phones
Global reach[edit]
PayPal can be used in more than 200 countries/regions.[105]
Different countries have different conditions: Send only (Package Service allows sending only, valid in 97 countries), PayPal Zero (package suggests the possibility of enrollment, entry, and withdrawal of funds in foreign currency, but the user can not hold the balance PayPal account, operates in 18 countries), SRW Send – Receive – Withdrawal (the possibility of enrollment, input-output and the ability to keep your PayPal account balance in the currency and to transfer to the card when the user sees fit, operates in 41 countries) and Local Currency (SRW plus opportunity to conduct transactions in the local currency, 21 countries).
China[edit]
In July 2017, PayPal announced a partnership with Baidu, to allow the Chinese firm’s 100 million mobile wallet users to make payments to PayPal’s 17 million merchants through the Baidu service.[106]
Crimea[edit]
In January 2015, PayPal ceased operations in Crimea in compliance with international sanctions against Russia and Crimea.[107]
India[edit]
As of March 2011, PayPal has made changes to the User Agreement for Indian users to comply with Reserve Bank of India regulations.[108] The per transaction limit had been set to USD $3,000, since October 14, 2011. However, on July 29, 2013, PayPal increased the per transaction limit to USD $10,000.[109] This brings the per transaction limit for India in line with the restrictions imposed by PayPal in most other countries.
PayPal has disabled sending and receiving personal payments in India, thus forcing all recipients to pay a transaction fee.[110]
PayPal plans to make India an incubation center for the company’s employee engagement policies. In 2012, PayPal hired 120 people for its offices in Chennai and Bangaluru.[111]
On 8 November 2017, PayPal launched domestic operations under PayPal Payments Private Limited and now provides digital payment solutions for merchants and customers in India.[112] As of 2020, Paypal supports the domestic card system RuPay and is planning to further integrate Unified Payment Interface (UPI) in collaboration with National Payments Corporation of India (NPCI).[113] Paypal now has the largest global engineering team in India outside of US that is spread over Bengaluru, Chennai and Hyderabad.[114]
Israel and Palestinian Territories[edit]
PayPal is available in Israel[115] but is not available in the Palestinian territories. Nor can Palestinians working in the West Bank or Gaza access it but Israelis living in settlements in the West Bank can use PayPal. This discrepancy has prompted Palestinian tech companies to seek a policy change from PayPal.[116]
Japan[edit]
In late March 2010, new Japanese banking regulations forced PayPal Japan to suspend the ability of personal account holders registered in Japan from sending or receiving money between individuals and as a result are now subject to PayPal’s business fees on all transactions.[117][118]
Pakistan[edit]
In Pakistan, users can use Xoom, a money transfer service owned by PayPal.[119] In October 2018, Pakistan’s government used Xoom to help crowdsource funds for the purpose of building two dams.[120]
Turkey[edit]
Eight years after the company first started operating in the country, Paypal ceased operations in Turkey on 6 June 2016 when Turkish financial regulator BDDK denied it a payment license. The regulators had demanded that PayPal’s data centers be located inside Turkey to facilitate compliance with government and court orders to block content and to generate tax revenue. PayPal said that the closure will affect tens of thousands of businesses and hundreds of thousands of consumers in Turkey.[121][122]
Sri Lanka[edit]
In January 2017, PayPal team scheduled to visit Sri Lanka mid January to re-establish links.[123]
PayPal Giving Fund[edit]
PayPal Giving Fund is a registered charity supported by Paypal that streamlines donations to nonprofit organizations.[124][125][126]
Digital marketing with PayPal[edit]
PayPal launches different marketing activities in various channels and emphasizes that consumers can use it in different ways.[127] Paypal’s marketing includes the TV commercials, outdoor advertising, Facebook, and display advertisement.[127]
PayPal provides free analytics to traders about the ways that consumers utilise online payments.[128] By the free tracking service, PayPal assists traders to target the consumers. PayPal’s code gathers the consumer information which can be installed on the trader’s website.[128] Both PayPal and traders get benefit from the free service.
PayPal cooperates with “Synchrony Financial” and provides a financial service to PayPal Cashback Mastercard, which offers 2% return cash to customers who are shopping online or on the physical stores by using PayPal.[129] PayPal’s cashback financial service promotes the number of potential customers.
Apple allows PayPal as a mode of payment for App Store, Apple Music, iTunes, and Apple Books.[130] PayPal can increase usage by the platform of Apple. In addition, PayPal gets revenue from Apple services especially from App Store.[131] Customers can use PayPal to purchase by connecting their PayPal payment system to Apple ID accounts.[130]
Regulation[edit]
Thiel, a founder of PayPal, has stated that PayPal is not a bank because it does not engage in fractional-reserve banking.[132] Rather, PayPal’s funds that have not been disbursed are kept in commercial interest-bearing checking accounts.[133]
In the United States, PayPal is licensed as a money transmitter, on a state-by-state basis.[134][135] But state laws vary, as do their definitions of banks, narrow banks, money services businesses, and money transmitters. Although PayPal is not classified as a bank, the company is subject to some of the rules and regulations governing the financial industry including Regulation E consumer protections and the USA PATRIOT Act.[136] The most analogous regulatory source of law for PayPal transactions comes from peer-to-peer (P2P) payments using credit and debit cards. Ordinarily, a credit card transaction, specifically the relationship between the issuing bank and the cardholder, is governed by the Truth in Lending Act (TILA) 15 U.S.C. §§ 1601-1667f as implemented by Regulation Z, 12 C.F.R. 226, (TILA/Z). TILA/Z requires specific procedures for billing errors, dispute resolution, and limits cardholder liability for unauthorized charges.[137] Similarly, the legal relationship between a debit cardholder and the issuing bank is regulated by the Electronic Funds Transfer Act (EFTA) 15 U.S.C. §§ 1693-1693r, as implemented by Regulation E, 12 C.F.R. 205, (EFTA/E). EFTA/E is directed at consumer protection and provides strict error resolution procedures. However, because PayPal is a payment intermediary and not otherwise regulated directly, TILA/Z and EFTA/E do not operate exactly as written once the credit/debit card transaction occurs via PayPal. Basically, unless a PayPal transaction is funded with a credit card, the consumer has no recourse in the event of fraud by the seller.[137]
In 2008, PayPal Europe was granted a Luxembourg banking license, which, under European Union law, allows it to conduct banking business throughout the EU.[138] It is therefore regulated as a bank by Luxembourg’s banking supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF).[139][140][141] All of the company’s European accounts were transferred to PayPal’s bank in Luxembourg in July 2007.[142] Prior to this move, PayPal had been registered in the United Kingdom as PayPal (Europe) Ltd, an entity which was licensed as an Electronic Money Issuer with the UK’s Financial Services Authority (FSA) from 2004. This ceased in 2007, when the company moved to Luxembourg.[143]
In India, as of January 2010, PayPal has no cross-border money transfer authorization. In The New York Times article “India’s Central Bank Stops Some PayPal Services”, Reserve Bank of India spokesman Alpana Killawalla stated: “Providers of cross-border money transfer service need prior authorization from the Reserve Bank under the Payment and Settlement Systems Act, PayPal does not have our authorization.”[144] PayPal is not listed in the “Certificates of Authorisation issued by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007 for Setting up and Operating Payment System in India”.[145] PaisaPay is an Indian sister service to PayPal, and is also owned by eBay.[146] PaisaPay makes possible payments from abroad by PayPal account holders to Indian sellers on eBay.in.
In Australia, PayPal is licensed as an authorised deposit-taking institution (ADI) and is thus subject to Australian banking laws and regulations.[147]
In Singapore, PayPal is the holder of a stored value facility that does not require the approval of the Monetary Authority of Singapore.[148]
Safety and protection policies[edit]
The PayPal Buyer Protection Policy states that the customer may file a buyer complaint if he or she did not receive an item or if the item he or she purchased was significantly not as described. The customer can open a dispute within 180 days (for registered UK residents 180 days, changed 14 June 2014) from the date of payment and escalate it to a claim within 20 days from opening the dispute. If the buyer used a credit card, he or she might get a refund via chargeback from his or her credit-card company. However, in the UK, where such a purchaser is entitled to specific statutory protections (that the credit card company is a second party to the purchase and is therefore equally liable in law if the other party defaults or goes into liquidation) under Section 75 Consumer Credit Act 1979, the purchaser loses this legal protection if the card payment is processed via PayPal.[149]
Also, the Financial Ombudsman Service position is that section 75 protection does not apply where PayPal or any eMoney service becomes involved in the credit card transaction. This leaves consumers with no recourse to pursue their complaint with the Financial Ombudsman Service. They only have recourse with the courts. However, the key issues which determine the applicability of section 75 are identified very clearly in Office of Fair Trading v Lloyds TSB Bank Plc and others [2006] EWCA Civ 268 7 and the Bank of Scotland v Alfred Truman (a firm) [2005] [EWHC] 583 (QB). This is a legal authority that section 75 protection does exist where one has paid on a credit card for a product, via an eMoney service.[150]
According to PayPal, it protects sellers in a limited fashion via the Seller Protection Policy. In general, the Seller Protection Policy is intended to protect the seller from certain kinds of chargebacks or complaints if the seller meets certain conditions including proof of delivery to the buyer. PayPal states the Seller Protection Policy is “designed to protect sellers against claims by buyers of unauthorized payments and against claims of non-receipt of any merchandise”. The policy includes a list of “Exclusions” which itself includes “Intangible goods”, “Claims for receipt of goods ‘not as described'”, and “Total reversals over the annual limit”.[151] There are also other restrictions in terms of the sale itself, the payment method and the destination country the item is shipped to (simply having a tracking mechanism is not sufficient to guarantee the Seller Protection Policy is in effect). The PayPal Seller Protection Policy does not provide the additional consumer protection afforded by UK consumer legislation (e.g., Sale of Goods Act) and in addition, it cannot be enforced in the Courts because PayPal operates from Luxembourg, outside all three of the UK legal jurisdictions.[152]
Security[edit]
Security token[edit]
Main article: Security token
In early 2006, PayPal introduced an optional security key as an additional precaution against fraud.[153] A user account tied to a security key has a modified login process. Account-holders enter their login ID and password as normal but are then prompted to enter a six-digit code provided by a credit card sized hardware security key or a text message sent to the account holder’s mobile phone. For convenience, users may append the code generated by the hardware key to their password in the login screen. This way they are not prompted for it on another page. This method is required for some services, such as when using PayPal through the eBay application on iPhone.
This two-factor authentication is intended to make it difficult for an account to be compromised by a malicious third party without access to the physical security key, although it does not prevent the so-called Man in the Browser (MITB) attacks. However, the user (or malicious third party) can alternatively authenticate by providing the credit card or bank account number listed on their account. Thus the PayPal implementation does not offer the security of true two-factor authentication.[154]
MTAN[edit]
It is also possible to use a mobile phone to receive an mTAN (Mobile Transaction Authentication Number) via SMS.[155] Use of a security code that is sent to the account holder’s mobile phone is currently free.[156]
Fraud[edit]
As early as 2001, PayPal had substantial problems with online fraud, especially international hackers who were hacking into PayPal accounts and transferring small amounts of money out of multiple accounts. Standard solutions for merchant and banking fraud might use government criminal sanctions to pursue the fraudsters. But with PayPal losing millions of dollars each month to fraud while experiencing difficulties with using the FBI to pursue cases of international fraud, PayPal developed a private solution: a “fraud monitoring system that used artificial intelligence to detect potentially fraudulent transactions. … Rather than treating the problem of fraud as a legal problem, the company treated it as a risk management one.”[157][158]
150,000 PayPal cards frozen[edit]
In 2015, 150,000 Spanish card holders had their funds frozen in an apparent fraud case involving a PayPal service provider, Younique Money, which was the de facto administrator of the cards. Previously, PayPal had charged €15 to all its card users without authorization (150,000 users). As of March 2015 most funds had not been returned.[159][160][161]
Criticism[edit]
See also: Criticism of eBay
In 2003, PayPal voluntarily ceased serving as a payment intermediary between gambling websites and their online customers. At the time of this cessation, it was the largest payment processor for online gambling transactions. In 2010, PayPal resumed accepting such transactions, but only in those countries where online gambling is legal, and only for sites which are properly licensed to operate in said jurisdictions.[162]
If an account is subject to fraud or unauthorized use, PayPal puts the “Limited Access” designation on the account. PayPal has had several notable cases in which the company has frozen the account of users such as Richard Kyanka, owner of the website Something Awful, in September 2005,[163] Cryptome in March 2010,[164][165][166] or April Winchell, the owner of Regretsy, in December 2011. The account was reinstated, and PayPal apologized and donated to her cause.[167]
In September 2010, PayPal froze the account of a Minecraft developer, Markus Persson. Persson stated publicly that he had not received a clear explanation of why the account was frozen, and that PayPal was threatening to keep the money if they found anything wrong. His account contained around €600,000.[168]
PayPal’s partner MasterCard ceased taking donations to WikiLeaks in 2010, and PayPal also suspended, and later permanently restricted, payments to the website after the U.S. State Department deemed WikiLeaks activities as illegal. Online supporters and activists retaliated by subjecting PayPal and MasterCard, along with other companies, to coordinated cyber attacks.[169]
In February 2011 PayPal unbanned the account of a website that supports Iraq War resisters after it had enough information to fulfill its know your customer guidelines. The Chelsea Manning Support Network claimed the backdown was a reaction to a petition to the company to reinstate the account.[170]
In May 2013, PayPal declined to pay a reward offered in its Bug Bounty Program[171] to a 17-year-old German student who had reported a cross-site scripting flaw on its site.[172] The company wrote that the vulnerability had been previously reported, and chastised the youth for disclosing the issue to the public, but, uniquely, sent him a “Letter of recognition” for the discovery.[173]
In August 2013, entrepreneurs who had used PayPal to collect the funds they raised on crowdfunding platforms like Kickstarter and Indiegogo reported difficulty in being able to withdraw the money. Most notable victims are Ouya, GlassUp (a rival to Google Glass), and Mailpile.[174][175]
In May 2014 PayPal blocked the account of a Russian human rights organisation “RosUznik”, which supported political prisoners arrested at Bolotnaya Square case.[176][177]
As of January 2015, a class-action lawsuit against PayPal has been filed in Israel,[178] claiming that they arbitrarily freeze accounts and hold funds for up to 180 days without paying interest and thereby directly profit from it. The lawsuit requests that PayPal be declared a monopoly and thus regulated accordingly.
In April 2015 The Guardian reported PayPal blocking the account of London-based human rights group Justice for Iran.[179]
In May 2015 PayPal blocked an account intended to raise money for the distribution of Boris Nemtsov’s report “Putin. War”.[180][181] The explanation by PayPal was that “PayPal does not offer the opportunity to use its system for collecting funds to finance the activities of political parties or for political aims in Russia”, though PayPal’s Acceptable Use Policy does not mention financing for political goals.[182] Non-governmental organization Freedom House issued a statement that “PayPal should immediately lift this ban, to help, rather than hinder, press freedom in Russia.”[183]
By 2016, ConsumerAffairs had received over 1,200 consumer complaints relating to PayPal policies.[184][failed verification] Consumers have also launched numerous anti-PayPal Facebook sites and Twitter accounts to air their complaints.[185]
In February 2017, PayPal froze the account of News Media Canada, a Canadian trade association, in response to a payment from The Reminder, a Flin Flon, Manitoba community newspaper, intended to cover the fee for the Reminder’s submission of articles for consideration in a nationwide journalism contest run by News Media Canada, including one discussing Syrian refugees. PayPal cited United States regulations as a reason for flagging the transaction between Canadian entities.[186]
In September 2018, PayPal banned radio host Alex Jones and his website InfoWars, claiming that his site has content that was hateful and discriminatory against certain religious groups.[187]
PayPal discontinued payments to Pornhub models on November 14, 2019,[188] alleging that “Pornhub has made certain business payments through PayPal without seeking our permission”.[189] Pornhub criticized the decision as one that affected “over a hundred thousand performers who rely on them for their livelihoods”, and steered its payees toward other payment options.[189][190]
Litigation[edit]
In March 2002, two PayPal account holders separately sued the company for alleged violations of the Electronic Funds Transfer Act (EFTA) and California law. Most of the allegations concerned PayPal’s dispute resolution procedures. The two lawsuits were merged into one class-action lawsuit (In re: PayPal litigation). An informal settlement was reached in November 2003, and a formal settlement was signed on June 11, 2004. The settlement requires that PayPal change its business practices (including changing its dispute resolution procedures to make them EFTA-compliant), as well as making a US$9.25 million payment to members of the class. PayPal denied any wrongdoing.[191]
In June 2003, Stamps.com filed a lawsuit against PayPal and eBay claiming breach of contract, breach of the implied covenants of good faith and fair dealing, and interference with contract, among other claims. In a 2002 license agreement, Stamps.com and PayPal agreed that Stamps.com technology would be made available to allow PayPal users to buy and print postage online from their PayPal accounts. Stamps.com claimed that PayPal did not live up to its contractual obligations and accused eBay of interfering with PayPal and Stamps.com’s agreement, hence Stamp.com’s reasoning for including eBay in the suit.[192][193]
Craig Comb and two others filed a class action against PayPal in Craig Comb, et al. v. PayPal Inc.. They sued, alleging illegal misappropriation of customer accounts and detailed their customer service experiences, including freezing deposited funds for up to 180 days until disputes were resolved by PayPal. PayPal argued that the plaintiffs were required to arbitrate their disputes under the American Arbitration Association’s Commercial Arbitration Rules. The court ruled against PayPal, stating that “the User Agreement and arbitration clause are substantively unconscionable under California law.”[194]
In September 2002, Bank One Corporation sued PayPal for allegedly infringing its cardless payment system patents.[195] The following year, PayPal countersued, claiming that Bank One’s online bill-payment system was an infringement against PayPal’s online bill-payment patent, issued in 1998.[196] The two companies agreed on a settlement in October 2003.[197]
In November 2003, AT&T Corporation filed suit against eBay and PayPal claiming that their payment systems infringed an AT&T patent, filed in 1991 and granted in 1994.[198] The case was settled out of court the following month, with the terms of the settlement undisclosed.[199]
In June 2011, PayPal and Israel Credit Cards-Cal Ltd. were sued for NIS 16 million. The claimants accused PayPal of deliberately failing to notify its customers that ICC-Cal was illegally charging them for currency conversion fees.[200]
A class-action lawsuit filed in 2010 was settled in 2016, in which the plaintiffs contested PayPal’s “holds” on funds. PayPal has proposed a settlement in the amount of $3.2 million in Zepeda v. PayPal which has yet to be ratified. As part of the settlement, the company agreed to change some of its policies.[201]
CFPB consent[edit]
On 21 May 2015 PayPal agreed that PayPal Credit would pay a $25 million fine to settle a complaint filed in Federal Court by the Consumer Financial Protection Bureau.[100] The complaint alleged that consumers using PayPal were signed up for PayPal credit accounts without their knowledge nor consent. It alleged that PayPal had promised discounts and payment options the consumers never received, and that users trying to sign up for the regular, non-credit, PayPal accounts were signed up for credit accounts instead.[100][202] The complaint was filed in the United States District Court for the District of Maryland, which ordered PayPal Credit to refund $15 million to consumers and to pay a $10 million fine.[100]
See also[edit]
Billpoint
E-commerce payment system
Electronic money
Interchange fee
List of online payment service providers
Micropayment
Payment service provider
PayPal Mafia
Paytm
Stripe (company)
References[edit]
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^ Tyrone, Stewart. “Paypal launches first cashback credit card to target physical stores | Mobile Marketing Magazine”. MobileMarketing. Retrieved March 15, 2018.
^ a b Alex, Spencer. “Apple brings PayPal to App Store, Apple Music and iTunes for the first time | Mobile Marketing Magazine”. MobileMarketing. Retrieved March 15, 2018.
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^ Chu, Lenora (February 26, 2008). “What PayPal does with your money”. CNNMoney. Retrieved March 16, 2014.
^ FDIC decides PayPal’s no bank. ZDNet (March 13, 2002). Retrieved on 2013-08-12.
^ “Bepress.com”. Retrieved January 20, 2011.
^ Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Act) Act of 2001, Pub. L. No. 107-56, 115 Stat. 272 (2001)
^ a b Margaret Jane Radin et al., Internet Commerce The Emerging Legal Framework 1174–1175 Foundation Press (2d ed. 2006)
^ Article 23 of the EU’s Banking Directive (Directive 2006/48/EC).
^ “PayPal Obtains Bank Charter for European Union”. Paymentsnews.com. Retrieved February 15, 2012.
^ Stevenson, Tom. “PayPal becomes a bank to fight off Google”. The Daily Telegraph. Retrieved September 24, 2012.
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^ Holahan, Catherine (June 15, 2007). “Businessweek.com”. Bloomberg BusinessWeek. Retrieved January 20, 2011.
^ “FSA.gov.uk”. FSA.gov.uk. Retrieved January 20, 2011.
^ NYtimes.com The New York Times, India’s Central Bank Stops Some PayPal Services, by Heather Timmons and Claire Cain Miller, February 10, 2010,
^ RBI.org.in Archived February 19, 2010, at the Wayback Machine Certificates of Authorisation issued by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007 for Setting up and Operating Payment System in India
^ Ebay Helpfile on Paisapay. “Ebay.in help file on Paisapay”. Retrieved October 15, 2013.
^ “Authority to carry on banking business, Banking Act 1959” (PDF).
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^ Kukiewicz, Julia (November 1, 2011). “Choose.net”. Choose.net. Retrieved November 1, 2011.
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^ “Buyer Protection & Seller Protection”. PayPal. Retrieved November 24, 2014.
^ “PayPal User Agreement”. PayPal. October 8, 2014. Retrieved November 24, 2014.
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^ Nick Mediati (October 29, 2013). “Keep your PayPal account safer with two-factor authentication”. TechHive. Retrieved November 24, 2014.
^ “PayPal Security Key – PayPal”. Retrieved August 18, 2009.
^ MoonlightCEO.com Moonlight CEO, PayPal Secrets, October 28, 2013
^ Stringham, Edward (March 4, 2013). “PayPal’s Private Governance”. The Freeman. Retrieved March 4, 2013.
^ Morisy, Michael (January 25, 2016). “How PayPal Boosts Security with Artificial Intelligence”. MIT Technology Review. Retrieved January 28, 2016.
^ “Paypal prepago deja de estar operativa”. Retrieved September 5, 2015.
^ Cadena Ser (March 6, 2015). “OCU denuncia a YoUnique Money ante el Banco de España”. Cadena Ser. Retrieved September 5, 2015.
^ “El Banco de España retira la licencia a Younique Money para emitir tarjetas Paypal”. LA VANGUARDIA. Retrieved September 5, 2015.
^ “Internet bingo guide to PayPal”. internet-bingo.co. October 30, 2011. Retrieved November 2, 2011.
^ “E-Commerce News: Security: Feds Investigating Fraudulent Katrina-Related Web Sites”. Ecommercetimes.com. Retrieved January 20, 2011.
^ Orlowski, Andrew (March 8, 2010). “Theregister.co.uk”. Theregister.co.uk. Retrieved January 20, 2011.
^ Orlowski, Andrew (March 10, 2010). “Theregister.co.uk”. Theregister.co.uk. Retrieved January 20, 2011.
^ Orlowski, Andrew (March 16, 2010). “Theregister.co.uk”. Theregister.co.uk. Retrieved January 20, 2011.
^ Morran, Chris (December 5, 2011). “PayPal Rains on Regretsy’s Secret Santa Campaign Over Use of Wrong Button”. The Consumerist. Retrieved November 6, 2011.
^ “PayPal Freezes Minecraft Dev’s 600k Euros”. Rock, Paper, Shotgun. Retrieved January 20, 2011.
^ Addley, Esther; Halliday, Josh (December 8, 2010). “Operation Payback cripples MasterCard site in revenge for WikiLeaks ban”. The Guardian. London. Retrieved December 28, 2014.
^ Lance Whitney (February 25, 2011). “PayPal reinstates Bradley Manning support group account”. CNET. Retrieved December 28, 2014.
^ “Security Researchers Bug Bounty Program”. PayPal. Retrieved May 27, 2013.
^ “PayPal denies teenager reward for finding website bug”. PCWorld. May 28, 2013. Retrieved May 29, 2013.
^ Fisher, Dennis (May 29, 2013). “PayPal to Fix XSS Flaw, But No Reward For Researcher”.
^ “GlassUp raised $100K on Indiegogo – but PayPal is refusing to pay up”. Venture Beat. August 14, 2013. Retrieved August 15, 2013.
^ “PayPal Freezes Campaign Funds”. Mailpile. September 5, 2013. Retrieved September 5, 2013.
^ “PayPal Blocks Donations for Printing Boris Nemtsov’s Ukraine War Report · Global Voices”. Global Voices. Retrieved September 5, 2015.
^ “Russian campaigning website snared in internet controls”. Financial Times. Retrieved September 5, 2015.
^ “ייצוגית ב-154 מ’ ש’: פייפאל חוסמת חשבונות באופן שרירותי”. Globes. January 5, 2015. Retrieved January 5, 2015.
^ “PayPal blocks Iranian human rights group’s account over sanctions”. The Guardian. Retrieved April 22, 2017.
^ “Paypal Blocks Russian Account Linked to Nemtsov Report on Ukraine – News”. The Moscow Times. Retrieved September 5, 2015.
^ “Boris Nemtsov’s parting shot”. The Economist. Retrieved September 5, 2015.
^ “PayPal Blocks Donations for Printing Boris Nemtsov’s Ukraine War Report · Global Voices”. Global Voices. Retrieved September 5, 2015.
^ “PayPal Blocks Donations for Report on Russian Actions in Ukraine”. Retrieved September 5, 2015.
^ Consumer Complaints & Reviews
^ Stuck in A Dispute Between PayPal and Itself
^ PayPal freezes Canadian media company’s account over a story about Syrian family
^ https://fxn.ws/2z807oF
^ Sharma, Vibhuti (November 14, 2019). “PayPal halts payment support to PornHub models”. Reuters. Retrieved November 15, 2019.
^ a b Cole, Samantha (November 14, 2019). “PayPal Pulls Out of Pornhub, Hurting ‘Hundreds of Thousands’ of Performers”. Vice. Retrieved November 15, 2019.
^ Peters, Jay (November 14, 2019). “PayPal abruptly cuts off Pornhub’s payroll, leaving performers with few payment options”. The Verge. Retrieved November 15, 2019.
^ “Settlement Agreement” (PDF). June 11, 2004.
^ “Technology Briefing, Internet: Stamps.com Files Breach Of Contract Suit Against eBay”. The New York Times. June 26, 2003. Retrieved November 24, 2014.
^ “Stamps.com Asserts Breach of Contract Claim Against PayPal and eBay”. April 23, 2008.
^ “Comb v. PayPal Inc”. January 21, 2007.
^ PayPal Hit With Patent Infringement Lawsuit Archived January 7, 2012, at the Wayback Machine – PC World, September 10, 2002
^ “Internet: PayPal Sues Bank One Over Patent Infringement”. The New York Times. April 23, 2008.
^ eBay, Bank One Settle Patent Suit – Law360, October 20, 2003
^ Festa, Paul (April 23, 2008). “AT&T sues eBay, PayPal over patent”.
^ eBay, Tumbleweed settle patent suit – CNET, December 23, 2003
^ Katzovitch, Guy (June 22, 2011). “ICC-Cal, Paypal sued in Tel Aviv court for NIS 16m”. Globes. Retrieved June 23, 2011. A NIS 16 million lawsuit was filed yesterday with the Tel Aviv District Court against Israel Credit Cards-Cal Ltd. (ICC-Cal) (Visa) and PayPal Inc., and the claimants have asked the court to recognize it as a class-action suit.
^ PayPal Agrees to Change Business Practices in Lawsuit Settlement
^ Marte, Jonnelle (May 19, 2015). “CFPB seeks to fine PayPal $25 million over credit allegations”. The Washington Post. Retrieved January 21, 2016.
External links[edit]
Official website
Business data for PayPal:
Google Finance
Yahoo! Finance
SEC filings
source http://wikimakemoney.com/2020/04/16/paypal/
0 notes