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NEWS

7:21 AM, 4 Jul 2008

eBay backs down on forced PayPal payment plan

Abstracted from The Age


Internet auction group eBay Australia & New Zealand has withdrawn plans to require members to exclusively use its PayPal Australia subsidiary for payments. The company had sought approval from the Australian Competition & Consumer Commission (ACCC) to prohibit payments using direct bank account deposits or cheques, as a means of minimising fraud. PayPal charges sellers $A0.30 per transaction and between 1.1% and 2.4% of the payment as commission. The ACCC said in its draft decision that the security benefits of having PayPal as the only payment system did not outweigh the anti-competitive effects of such an arrangement

Distributed by News Bites. © Lexis-Nexis


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