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Technology news and Jobs 
Fuzzy Logic Rebels strike back at eBay and PayPal through Australian banks
Fuzzy Logic Rebels strike back at eBay and PayPal through Australian banks | Rebels strike back at eBay and PayPal through Australian banks |
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| by Alex Zaharov-Reutt | |
| Thursday, 10 July 2008 | |
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Page 5 of 5 The concerned eBay users had a final statement to make in a communication with iTWire, saying: “After all, our banks have been around since before I was a born, and I too, have always banked with CBA over my lifetime, so why would I want to stop trusting that relationship now and simply believe PayPal who's been on the scene for five minutes? They haven't even stood the test of time, and what if everyone withdraws funds at once????? Kaboom !!! “Read PayPal's User Agreement, and compare it to that of your bank. “Particularly the disclaimer section. I got half way through the sign up for PayPal thinking it couldn't be that bad, and something inside me said, read the User Agreement first. Well, after I read it, I ran - I didn't walk - to the nearest exit. No liability taken for anything. “Don't be sucked in... read the User Agreement before handing over your identity and financial info to PayPal. Our Banks are safer by a country mile.” What eBay’s response to this new campaign will be is, as yet, unknown, although in a previous iTWire article on the continuing saga, eBay Australia spokesperson Daniel Feiler is quoted telling SmartCompany.com.au that it is a "myth" that PayPal does not abide by Australian financial laws. Feiler is specifically quoted defending eBay “against the allegations that it promotes PayPal to the detriment of other payment methods” and is further quoted saying “traders are not restrained in the payment methods they can offer and all payment methods will be advertised next to PayPal on a seller’s site.” The quotations continue: “eBay does promote PayPal because of its security benefits. Our data clearly shows that you are almost four times less likely to enter a dispute if you pay by PayPal than if you pay by bank deposit, credit card or money order. It would not be right for us not to make people aware of that fact.” The article also quotes Feiler exploding the “myth that PayPal is not regulated in Australia” despite eBay not being a party to the EFT. That’s because PayPal does indeed “have a banking license and is regulated under Australian banking laws”, with Feiler quoted saying: “Anyone with a complaint about the PayPal dispute resolutions process can take it to the banking and financial services ombudsman and have that third party review the case.” Feiler continues: “PayPal standards either meet or exceed the EFT code of conduct. PayPal does have systems in place that should give all Australian users certainty that they are dealing with a body that is regulated.”
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