Yahoo PayDirect service will be discontinued

[Anthony]

If you have a bet down on Yahoo's Pay Direct overcoming the popularity and widespread scope of eBay's Paypal, then I'm afraid you've just lost your five bucks (you cheap bettor, you!):

We regret to notify you that we are closing the Yahoo! PayDirect from HSBC service, effective November 22, 2004.

You may continue to use your current PayDirect account until November 22, but you will not be able to open any new accounts, nor will you be able to send money to or receive money from a person who is not currently a PayDirect customer. After November 22, 2004, you will not be able to use your account for any new transactions. 'Send money' transactions initiated prior to November 22 will be completed if recipients accept funds within 30 days after send date; thereafter transactions will be canceled. You can still view your account records and withdraw any pending balances until February 15, 2005. After February 15, you can only access your PayDirect account to review past transactions and/or close your account.

The PayDirect service and web site will be completely discontinued on May 15, 2005.

Can anyone suggest alternate online payment services similar to Paypal that are easy to use and work?

 

[suthra]

i think its powered by hsbc and not a direct service by yahoo.

 

[netPH]

Can anyone suggest alternate online payment services similar to Paypal that are easy to use and work?

Yeah, anyone who knows any Paypal alternatives?

I saw this http://www.yowcow.com but fees sucks

 

[middlebe]

Yeah, anyone who knows any Paypal alternatives?

nope. I kept meaning to use my c2it account one day and then they... went out of business :lol:

 

[identity_00]

The whole wallet thing was a bad idea.."Everyone needs a wallet before spending or receiveing money" -

Yahoo just needs buy now links. Keep it simple and cheap.
They have lots of traffic and reputable name. Shouldn't be that complicated.

 

[1rrr1]

try stormpay.com

 

[matrics]

... ikobo would be a viable alternative if it didn't ask for so much authentification. Or moneybookers.

 

[Mark]

Got that Too !
I'm thinking they (Yahoo) will have another service up soon ... But What ? ~ Just another CC processor ? ...... How will their Auctions function in the meanwhile ????

 

[Anthony]

Interesting. I wonder if whether Yahoo or HSBC decided to end the service...

 

[axl]

... ikobo would be a viable alternative if it didn't ask for so much authentification. Or moneybookers.

I'm with you on this one, I'd also suggest one of these two. Ikobo I think has the advantage of their ikard system and lately they seem to be improving on their service. Moneybookers, among others, has the advantage of being more popular.

 

[travis25r]

Yes, but in the end what can you choose: a cheap service which has a trend to become popular or another service who may be popular but you must pay a high price for that ? This is a tough one I guess.

 

[Anthony]

Yes, but in the end what can you choose: a cheap service which has a trend to become popular or another service who may be popular but you must pay a high price for that ? This is a tough one I guess.

True. But in any case, competition is healthy.

 

[Stephen]

I'd suggest just going with paypal. You can have some problems with paypal, but mostly everyone never does... It's just a chance you have to take with any online payment processor.

 

[axl]

Lately it seems to me that paypal isn't what they used to be. I'm speaking about their site going down, investigations by FBI and the usual fraud reports. I'm not trying to put down anyone, it's just that they don't seem as trustworthy as one might like. Just what I think....

 

[travis25r]

True. But in any case, competition is healthy.

I agree with you. Competiton is very healthy because that's why we can choose from different services with different fees and features. For example, in my case, ikobo is the service that works for me but for others with more money than me, paypal could be a good choice because they can pay higher fees. Anyway, I don't like those overnight "payment gateways" and I don't think they are a part of this healthy competition. What do you think ?

 

[axl]

Indeed competition is what we all need to have better services.
Well, as for the "overnight payment gateways", I suppose they wouldn't be such a bad thing if they really are in this for long term and to actually make money off their services not by scamming people. I think I've said it all.

 

[binxboy]

The Theroy - HSBC Domination

That's funny ... I never knew that PayDirect was through HSBC & I work for HSBC!! If I were to venture a guess, I would predict this is a move on behalf of HSBC simply because they are a HUGE Global bank trying to make their own market and name in America.

They purchased Household Credit which carries Household, Orchard, GM, Best Buy, Union Plus, Bally Total Fitness, and etc Portfolios for credit accounts- so I would venture that since they are a bank - They want to open their own branches in america, start their own payment processing services with their name brand recognition and etc...

I mean think about it - if you are a huge business all over the world except America - why would you do business under the name of "Yahoo" when you can simply do the same thing under your own Label - And if you do your research, HSBC's brand name for recognition worldwide is in the top 35 - I think Nike is #31 if that gives you any indicator on how powerful the name really is.

Anyway ... Just something to think about. -David aka Binx

 

[travis25r]

Indeed competition is what we all need to have better services.
Well, as for the "overnight payment gateways", I suppose they wouldn't be such a bad thing if they really are in this for long term and to actually make money off their services not by scamming people. I think I've said it all.

No. They last no more than a few months but it is enough for them because they already got what they wanted: money form naive people.

Anyway, I think that moneybookers or ikobo can be a good option for former yahoo paydirect customers. Both of this services offer compatible services although ikobo has a much larger coverage which is a good option for merchants, especially the non-US ones.

 

[suthra]

I'd suggest just going with paypal. You can have some problems with paypal, but mostly everyone never does... It's just a chance you have to take with any online payment processor.

Chances with our own money???

 

[axl]

Guess that's what Steveh means. I for one am not going to take that chance with them, to much bad press.
I tend to agree with Travis, I also believe there are other choices out there, such as 2checkout, ikobo, moneybookers and so on (these are my personal favorites). So far ikobo seems to be doing alright.

 

[travis25r]

Guess that's what Steveh means. I for one am not going to take that chance with them, to much bad press.
I tend to agree with Travis, I also believe there are other choices out there, such as 2checkout, ikobo, moneybookers and so on (these are my personal favorites). So far ikobo seems to be doing alright.

:hehe: That's right. Paypal is not a good choice if you ask me. I would rather go with ikobo or moneybookers. I don't like 2checkout because they steal money from people. At least this is what happened to me and others too.

 

[axl]

Eh well, maybe stealing is too much, but if that's your opinion then I respect it. I've also heard some bad stuff about them, so in part you could be right. In my case I couldn't even use them even if I wanted to. The only service that suits my needs was ikobo; at least until now they have.

 

[adam_uk]

If you have a bet down on Yahoo's Pay Direct overcoming the popularity and widespread scope of eBay's Paypal, then I'm afraid you've just lost your five bucks (you cheap bettor, you!):



Can anyone suggest alternate online payment services similar to Paypal that are easy to use and work?

nochex?

 

[superprogrammer]

I guess nochex works only in UK

 

[Anthony]

Looks like ikobo and moneybookers might be worth looking into... any others?