Friday, May 9, 2008

New E-bay Policy About To Get Test Run Down Under

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E-bay proposed policy that would require all transactions to use PayPal is going to get a trial run in Australia. The new policy that E-bay claims is going to reduce fraud and other disputes is already drawing fire from Australia's banks. Many claim that it's just a money grab for E-bay since PayPal charges larger fees than Australian banks charge for transferring money.

However in North America banks charge more for money orders and direct transfers than PayPal charges on their transactions. It's going to be the little guy who uses post office money orders to pay for items bought on E-bay that is going to be the worst affected. While having a credit card isn't a requirement to use PayPal, not everybody has a bank account that can authorize electronic funds transfers.

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