[Ipg-smz] PayPal bans Hacker News

Wed Jan 2 12:49:55 UTC 2019

A decision that’s indicative of bad management long term… 

From: Ipg-smz [mailto:ipg-smz-bounces at netpress.org] On Behalf Of Dana Blankenhorn
Sent: Wednesday, January 02, 2019 7:45 AM
To: ipg-smz at netpress.org
Subject: Re: [Ipg-smz] PayPal bans Hacker News

I wrote about Paypal as a stock last week https://investorplace.com/2018/12/paypal-stock-a-perennial-buy/ but, as I said, its no longer an alternative payments company but a global mobile payment play, rapidly integrating with other networks and, thus, losing the advantages that once made it interesting. 

On Wed, Jan 2, 2019 at 7:15 AM Richi Jennings <richi.ipg at richi.uk> wrote:

Prospective customers who want to use PayPal to pay me: This is why I'm hesitant (plus PayPal's ridiculous cross-border fees).

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On Wed, Jan 2, 2019 at 11:52 AM Dana Blankenhorn <danablankenhorn at gmail.com> wrote:

Paypal is bringing these onorous terms of service into a world where the company is becoming more of a transaction processor. They are selling their receivables to Synchrony and signing global alliances for things like mobile transaction processing.

On Tue, Jan 1, 2019 at 8:55 PM Andy Patrizio <andy at andypatrizio.com> wrote:

Idiots.

https://www.cryptovibes.com/crypto-news/paypal-bans-the-hacker-news-bitcoin/

he Hacker News (THN), a cybersecurity news resource, has become the latest notable PayPal user to have all its accounts frozen without notice. The company alleged that PayPal acted without mentioning any reason and went on to hold funds in these accounts illegally for 180 days.

In a series of December 28 tweets, officials announced that money from all its corporate accounts with the global money transmitter was no longer available. THN described that situation as ‘frustrating’ and accused PayPal <https://www.cryptovibes.com/knowledge/5-quick-ways-to-buy-bitcoin-with-paypal/>  of acting without offering valid reasons for their drastic bans. The money transmitter has regularly initiated funds blocking against corporate clients in the past including those in the cryptocurrency industry without explanations.

Such blocks are a part of the service’s terms of use, that feature the caution that users can be frozen from their accounts without the company having to explain.

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Dana Blankenhorn

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http://investorplace.com/author/danablankenhorn/#.WJzBOzsrLIV

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