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$34B went thru their hands in Q1

piecesofmepiecesofme Posts: 6,669 ✭✭✭
in Precious Metals
Paypal had $34B go thru their service just in Q1 alone. That's a net profit for them of almost $1M in the fees paid to use their service, for 1Q. For outsourcing their customer service.
I guess that's why they can provide the "gift" & "payment owed" options free image
To forgive is to free a prisoner, and to discover that prisoner was you.

Comments

  • dontippetdontippet Posts: 2,606 ✭✭✭✭
    You mean $1 billion in profit?
    > [Click on this link to see my ebay listings.](https://www.ebay.com/sch/i.html?_nkw=&_in_kw=1&_ex_kw=&_sacat=0&_udlo=&_udhi=&_ftrt=901&_ftrv=1&_sabdlo=&_sabdhi=&_samilow=&_samihi=&_sadis=15&_stpos=61611&_sargn=-1&saslc=1&_salic=1&_fss=1&_fsradio=&LH_SpecificSeller=1&_saslop=1&_sasl=mygirlsthree3&_sop=12&_dmd=1&_ipg=50&_fosrp=1)
    >

    Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    The way I figured it was:
    34B x 2.9% = 986,000
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • dontippetdontippet Posts: 2,606 ✭✭✭✭
    2.9% of $34 billion is about $1 billion.
    > [Click on this link to see my ebay listings.](https://www.ebay.com/sch/i.html?_nkw=&_in_kw=1&_ex_kw=&_sacat=0&_udlo=&_udhi=&_ftrt=901&_ftrv=1&_sabdlo=&_sabdhi=&_samilow=&_samihi=&_sadis=15&_stpos=61611&_sargn=-1&saslc=1&_salic=1&_fss=1&_fsradio=&LH_SpecificSeller=1&_saslop=1&_sasl=mygirlsthree3&_sop=12&_dmd=1&_ipg=50&_fosrp=1)
    >

    Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    lol, I guess when it gets that many 0's and I'm not totally awake yet, I could've just cost myself alot of money if I was making a trade that large huh? LOL

    Even more reason they can offer a non-fee method of payment, and remember that is only in one Quarter!
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    $986MIL. whew.
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    $986MIL. whew

    In ONE QUARTER! And i'm supposed to feel bad about accepting a gift payment even using it for its purpose? NOT!
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • dontippetdontippet Posts: 2,606 ✭✭✭✭


    << <i>$986MIL. whew

    In ONE QUARTER! And i'm supposed to feel bad about accepting a gift payment even using it for its purpose? NOT! >>



    Here we go again. If you want to use their service, then there is a price to pay. If you want a free transaction, then a check or a money order will only cost you 45 cents. It's not as convenient, but it is the best free way.

    Do you shoplift at Walmart because they make so much money already, they certainly don't need yours?
    > [Click on this link to see my ebay listings.](https://www.ebay.com/sch/i.html?_nkw=&amp;_in_kw=1&amp;_ex_kw=&amp;_sacat=0&amp;_udlo=&amp;_udhi=&amp;_ftrt=901&amp;_ftrv=1&amp;_sabdlo=&amp;_sabdhi=&amp;_samilow=&amp;_samihi=&amp;_sadis=15&amp;_stpos=61611&amp;_sargn=-1&saslc=1&amp;_salic=1&amp;_fss=1&amp;_fsradio=&LH_SpecificSeller=1&amp;_saslop=1&amp;_sasl=mygirlsthree3&amp;_sop=12&amp;_dmd=1&amp;_ipg=50&amp;_fosrp=1)
    >

    Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    they certainly don't need yours?

    And that attitude right there my friend it what is wrong (in part) with American business. Thanks for stating the obvious that they are too big with no real competition (what American business is supposed to be about I always thought) and could care less about me as a seller on eBay.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • dontippetdontippet Posts: 2,606 ✭✭✭✭


    << <i> they certainly don't need yours?

    And that attitude right there my friend it what is wrong (in part) with American business. Thanks for stating the obvious that they are too big and could care less about me as a seller on eBay. >>



    You misinterpreted my quote. The statement was do you shoplift because (in your mind) they have enough money and don't need your money".
    > [Click on this link to see my ebay listings.](https://www.ebay.com/sch/i.html?_nkw=&amp;_in_kw=1&amp;_ex_kw=&amp;_sacat=0&amp;_udlo=&amp;_udhi=&amp;_ftrt=901&amp;_ftrv=1&amp;_sabdlo=&amp;_sabdhi=&amp;_samilow=&amp;_samihi=&amp;_sadis=15&amp;_stpos=61611&amp;_sargn=-1&saslc=1&amp;_salic=1&amp;_fss=1&amp;_fsradio=&LH_SpecificSeller=1&amp;_saslop=1&amp;_sasl=mygirlsthree3&amp;_sop=12&amp;_dmd=1&amp;_ipg=50&amp;_fosrp=1)
    >

    Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
  • dontippetdontippet Posts: 2,606 ✭✭✭✭
    Paypal provides a service. Nobody is forcing you to use Paypal. There are other online payment options and there are certainly other "offline" options (check, money order, etc....). Just because Paypal is the most convenient option for you does not mean that they should provide their service for free.
    > [Click on this link to see my ebay listings.](https://www.ebay.com/sch/i.html?_nkw=&amp;_in_kw=1&amp;_ex_kw=&amp;_sacat=0&amp;_udlo=&amp;_udhi=&amp;_ftrt=901&amp;_ftrv=1&amp;_sabdlo=&amp;_sabdhi=&amp;_samilow=&amp;_samihi=&amp;_sadis=15&amp;_stpos=61611&amp;_sargn=-1&saslc=1&amp;_salic=1&amp;_fss=1&amp;_fsradio=&LH_SpecificSeller=1&amp;_saslop=1&amp;_sasl=mygirlsthree3&amp;_sop=12&amp;_dmd=1&amp;_ipg=50&amp;_fosrp=1)
    >

    Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    But Don, they do provide a free service in the gift or payment owed options. All I'm saying is that I now see why they can afford to do so making $1B/qtr. for basically being a middle man with no competition. I'm not complaining about how much they make, let them make more for all I care. I just wish there was a "service" out there that could compete with them a bit so they would'nt have it cornered the way they do. Competition is good for the user/consumer, no?
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • SpoolySpooly Posts: 2,108 ✭✭✭
    I signed up for Google checkout (google wallet), I hope it catches on. I'm starting to support Webstore.com. (free listing, no buyers fees)
    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • Coins101Coins101 Posts: 2,602 ✭✭✭
    So, out of that 2.9%, how much goes to Mastercard, VISA and their issuing banks? I am sure the majority of the $$ going through their hands are via a credit card.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    So, out of that 2.9%, how much goes to Mastercard, VISA and their issuing banks? I am sure the majority of the $$ going through their hands are via a credit card

    Everything less 2.9% went to the credit cards. Paypal made $2.9% off the total purchases ($34B) made thru them using their service...or close to $1B in Q1.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>So, out of that 2.9%, how much goes to Mastercard, VISA and their issuing banks? I am sure the majority of the $$ going through their hands are via a credit card. >>



    My guess - on average - the cc fee is around 2%. It all depends on the merchants volume. PayPal's cut is about 1% on cc transactions.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • Coins101Coins101 Posts: 2,602 ✭✭✭


    << <i>

    << <i>So, out of that 2.9%, how much goes to Mastercard, VISA and their issuing banks? I am sure the majority of the $$ going through their hands are via a credit card. >>



    My guess - on average - the cc fee is around 2%. It all depends on the merchants volume. PayPal's cut is about 1% on cc transactions. >>



    image

    I don't think the CC company's are giving their service to PayPal for free. Why do you think the default payment method on PayPal is always your bank account? (Hint - so they can make the full 2.9%)!!!!!
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    gotcha...still a boatload for being a middle man. Oh well, just wish there was some serious alternatives.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • WingsruleWingsrule Posts: 3,010 ✭✭✭✭
    Just think how much they could make if people didn't steal from them by violating their terms of service?
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Just think how much they could make if people didn't steal from them by violating their terms of service?

    That's one way to look at it image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • WingsruleWingsrule Posts: 3,010 ✭✭✭✭
    And that attitude right there my friend it what is wrong (in part) with American business. Thanks for stating the obvious that they are too big with no real competition (what American business is supposed to be about I always thought) and could care less about me as a seller on eBay.

    Actually, that concept is what makes American business great. Develop a new widget or process, use the patent / trademark / copyright system to protect your ideas, invest your time, money and effort to market your thing, and reap the rewards for that. How is this a bad thing?

    As far as not caring for you as a seller - that is NOT one of the functions of business. The main focus of virtually any for-profit business is a return to SHAREHOLDERS, not the public in general. If "not caring" started to lose them money, only then would it be an issue for the company.

    They got "too big" because they developed and marketed a service that grew into a huge world-wide hit that gets them millions of repeat customer on a daily basis. Again, how is that a bad thing?
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Spoken like a true shareholder that's been along for a nice ride Mark . I wonder if you would be so, dare I say...narrow minded, if you were down (only) 1/2 of what you're up since you bought.
    Kudos to you for sticking it out with them though. The "shareholder value" is sure to only continue to rise as long as there's no comeptition image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • WingsruleWingsrule Posts: 3,010 ✭✭✭✭
    Not a shareholder any more, haven't been for awhile. I couldn't even tell you where the stock is without looking it up first. The stock pruice has nothing to do with my comment. I was responding to your comment (referenced in italics in my original post), in that what paypal is doing (i.e. making lots of money) is WRONG in your eyes.

    I strongly disagree with that statement.

    The "shareholder value" is sure to only continue to rise as long as there's no comeptition

    Exactly! If anyone can devise a method of taking / making payments that is accepted on a worldwide basis without violating any intellectual property, I wish them all the profit they can count!

    So, using this analogy, Apple is just a bunch of greedy $%^&s, right? All they did was create an entire new segment of the market, and were able to sell those items around the world. Same thing paypal did, AAPL just makes more money per transaction.
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