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Fuzzy Logic Australia’s Reserve Bank makes major PayPal decision
Fuzzy Logic Australia’s Reserve Bank makes major PayPal decision | Australia’s Reserve Bank makes major PayPal decision |
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| by Alex Zaharov-Reutt | |
| Thursday, 21 August 2008 | |
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Page 2 of 2 ”The RBA's announcement today (with follow up interviews to the RBA in the media links below) signal that the RBA will be entering into formal discussions with PayPal to have eBay/PayPal :Featured Whitepaper
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• desist from their underhanded practices of funneling all buyers down the path of (falsely) believing that PayPal is the only accepted payment method on eBay - removal of the "no-steering rule", and • provide sellers the option of charging buyers for the added costs of paying by PayPal as compared to other payment methods - removal of the "no-surcharge rule" "Additional background information on the latter two rules appears at point 3.2.1 on the RBA site here . "This is a significant step towards… "1. returning freedom of choice to both sellers and buyers, "2. allowing hundreds of thousands of Australian sellers who refused to sign up and offer PayPal by 21 May 2008 (and have thus been unable to sell on eBay since then) to return to and sell once again on eBay, "3. ensuring that as a payment method, PayPal must compete with other methods on its own merits (improving both competition and overall market efficiency), "4. improving transparency - if PayPal indeed offers benefits over other payment options (and this is very hotly debated) then buyers will be able to make informed cost/benefit comparisons and can decide if they wish to pay for such benefits (recognising that some sellers may still absorb the PayPal cost), and "5. points 1, 3 and 4 above will likely halt and reverse the very rapid growth of PayPal transaction numbers on the eBay platform." The question is, how quickly will "PayPal" respond - and what this might mean for the Australian PayPal business - and eBay - for months and years to come! |
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