IMO, once a business gets established, like the major banks and Sears,
etc., they fail to innovate to much out of fear they'll destroy their
business model, plus (a BIG plus) is few understood the affect the
internet would have on the economy and the way we do business. I think
this year will see the internet selling more Christmas gifts than the
brick and motor stores. I don't know for a fact, but I think banks
used to charge a fee to do electronic transfers - as much as $25
perhaps. Paypal charges me and it's not insignificant - had a $350
charge yesterday and the PP fee was around $10. A bargain for what they
offer - no risk of bad checks, counterfeit MO's, and all the other scams
going around.
LarryT
On 11/07/2017 7:27 PM, Peter Frederick via Mercedes wrote:
PayPal is great -- makes you wonder what the banks were doing that someone else
came up with the idea. Banks routinely transfer money electronically, they
should have been able to develop a very low cost electronic service without
someone becoming a billionaire.
Then again, Sears the mail order giant, missed the entire net commerce
thing.....
Peter
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