Is Paypal the elephant in the room?

Submitted by PossibilityRare5048 t3_zzm2oy in wallstreetbets

Multiple pending classactions, the company is literally stealing and freezing money from every single one seller account worldwide and now they found out they also used marketing strategy to manipulate the numbers of active accounts and scam shareholders.

Why is this company still alive and why no media is talking about this?

I mean it's like seeing somene shooting with a kalashnikov in times square, everybody screaming and dying and total silence on tv.

I don't know if short its dead, i am a little scared about a herbalife miracle effect.

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thetermanator16 t1_j2d1qco wrote

We used PayPal through my business. Up until they held $300k for no reason other than “a business can’t do that much business on Black Friday” we provided them any and all documents required of us and got nowhere. As a small business, we were almost put out of business because of them. It took about a year to get all of our money out of them

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mma-plays t1_j2fh7he wrote

I wonder who exactly is responsible for hijacking the money. My buddy got $50k taken by Paypal and they basically told him to get bent and laughed at his lawyer. Wonder if Paypal has a shady department that is basically their "Mob Department" where they just extract whatever the fuck they want. It's disgusting they are still around.

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thetermanator16 t1_j2fi37y wrote

From what I remember with our case, there was one man with the power to hold the money. He told us he could do whatever he wanted. He didn’t report to anyone. We had gotten in touch with high ups in PayPal and they couldn’t do anything. Definitely a ridiculous business. We won’t do anything with them ever again. However we are thinking about taking a loan from them and not repaying 😂

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b0jjii t1_j2e2x1y wrote

Who did you switch to?

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thetermanator16 t1_j2er8l2 wrote

We have been through a couple different processors now. All of them have been good. Authorize was one. Now we are with Shopify which has been amazing.

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Canuckleheadd t1_j2cxkeq wrote

5.6 billion in free cash flow TTM. Your dumb fucking opinions don't matter.

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TarkovReddit0r t1_j2dbftu wrote

Also always performed well during Christmas. Chances are high it’ll have strong numbers next Q even during recession

Ppl won’t save up on their Christmas presents

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PossibilityRare5048 OP t1_j2e4jvs wrote

Man that's a year of madoff revenues.

−3

Canuckleheadd t1_j2fteck wrote

I'll give you that. I don't expect then to ever grow at the rate they were in 2021. But this is a far from dead company. With that sort of cash flow they can buyback shares at a pretty decent clip over the next decade and the stock will still compound nicely.

I do think they are a kature company at this point now and I know longer see them as the "growth" company so many in the 20/21 classified them as.

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VisualMod t1_j2ceetw wrote

>This company is a fraud and will eventually be exposed. The media is not talking about it because they are in on the scam.

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NiceAsset t1_j2cgqbs wrote

Ah, Vis Mod got burnt this year on PayPal as well

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fishy247 t1_j2cougj wrote

Mom, it’s the damn media….I promise!!!

5

Same_Class5866 t1_j2cmynb wrote

Honestly didn't know people had those problems with PayPal. I personally have not.

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reeljock t1_j2fl7p1 wrote

Had a presonal account i used for ebay. PayPal froze my balance of a couple hundred dollars suddenly for no reason. No one could really explain or do anything about it. Suddenly released it a couple weeks later. Company feels shady as heck. No transparency.

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S-U_2 t1_j2eglzi wrote

Do you have a business account? I have a personal account and try to not have to much cash on there. Just enough for buying stuff online

1

third_legatron t1_j2cu04y wrote

So, I'm gonna act like VM.

Stocks can act irrationally more than you can stay solvent, but that doesn't mean you shouldn't yolo on it in the near term. Me personally, will stay out, since that wsb guy yolod on $100 calls. But looking at their balance sheet, it shows that they may be a innovative bet going forwards into the next decade.

Plz uppvote I'm poor

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ValenciaTrading t1_j2cmudm wrote

Why are they still around? Take a look at their balance sheet.

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[deleted] t1_j2covre wrote

Is that some secret message illuminati shit or what am I supposed to see?

4

squirea1 t1_j2dec6w wrote

Don’t know why you’re getting downvoted. Guy just assigned us chores and has no other substance to his comment.

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MediumRB t1_j2dif0s wrote

As interest rates go up, PayPal will benefit by holding people's money longer for "verification" purposes or whatever. They make some money on fees, but probably a lot more on the interest for short term deposits. Since they seem to have carte blanche in terms of policies to control the flow of users' money through their hands, it seems a great business until there is a mass exodus of users. Since they are now in cahoots with the IRS, fat chance any competitors of scale will emerge soon.

As a business model, evil and profitable. As a stock, well, this is a casino.

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Additional-Target953 t1_j2d4rkl wrote

Paypal at this point has entered the categories of IBM and the likes. They are big, somewhat profitable, but shitty, but they won't die in a fire in a snap of finger.

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Teddy_Anneman t1_j2fdm7k wrote

I tried to open a paypal account for EBay, paypal wanted my password for my bank accounts. The literal ID/password to access my private bank account.

Needless to say, I said F that. I don't need them, don't want them.

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plu5on3 t1_j2d6885 wrote

Paypal is sort of a value play apparently

3

Major-Mastodon-9970 t1_j2ebft6 wrote

Definitely fraudulent in the way they handle “policy”

3

Sailordave100 t1_j2ejypl wrote

Stole from me. PayPal is nothing. But cheap grifters with suits. I got my money back.

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pelagicyak t1_j2db0y2 wrote

What's a single media?

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lavishcoat t1_j2dbejs wrote

This might sound weird but PYPL is a buy. Elliott Management bought into them last year. If you don't know who they are go read about them, they know what they are doing.

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MoonShadow_Empire t1_j2dnwjh wrote

Elliot management bought up att and now its half the value.

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Responsible-Cap-8732 t1_j2epbki wrote

T is finally in a situation to do well. Cut most of the fat and BS off and finally for the first time in years looks solid.

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Shavenballz t1_j2faae8 wrote

Why the fuck would anyone use PayPal?

2

sociallyawkwardbmx t1_j2fjwwg wrote

To buy things from slightly sketchy websites and not expose your credit card number and have buyer protection.

2

VisualMod t1_j2ceeeo wrote

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1

TheYakster t1_j2dnk72 wrote

No problems with PayPal here or there Venmo service. I think the account freezing issue is way over hyped.

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PossibilityRare5048 OP t1_j2dtrim wrote

They hold new vendors money for 60 days as a rule now. It s not over hyped at all.

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iCaligula t1_j2e1xf8 wrote

They also charge merchants much higher % fees than Visa, MC, etc.

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sociallyawkwardbmx t1_j2fk60u wrote

Happened to my cousin. She and her husband were abusing friends and family for their business. Fact is most people got caught breaking the rules then gets mad.

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