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PayPal owns Venmo (via their BrainTree acquisition). I'm curious if it will merge with paypal.me or get shuttered in the future.
@michaelhwan And yet, I won't use it because it requires a Paypal account and has a credit/debit card fee when Square cash is just perfect.
Awesome that there are no fees, but kinda sucks that people need to login with paypal though. I've found Plasso (https://plasso.co) great for collecting one off payments from people (though it does have the Stripe fee).
@reddavis There's also a limit of 15 "Pay Me" transactions per month with Plasso, but otherwise it's a great option for this kind of thing.
Registered mine but obviously would have loved to have the same username as Twitter or FB. They should have devised the PH strategy.
In general a great initiative from PayPal and they surely already have the distribution to make this a success. However, I can't understand why they won't allow people to pay as guests (by entering their credit card details). Forcing to create a PayPal account just makes this much less useful. I hope this is going to change.
@normanwiese They make the bulk of their money from people who pay either with existing Paypal funds or via ACH. It costs them 0 if you pay with paypal funds but a couple percent if you pay with a credit card (and a few cents if you pay with ACH).
@pitdesi To be clear if someone sends money for friends and family we don't charge either party. If they fund it w credit card then we are charged a fee and hence charge fee to the sender. If a business is receiving money for goods and services a fee is charged in that case to the business (receiver). That doesn't cover all cases but is the general framework. Venmo (part of PayPal) is all friend to friend.
About time.... if someone wants to see how looks a real example: https://www.paypal.me/openclassi... donations welcome! thanks :P
I first thought that it was odd that PayPal would launch a sort of competitor to their own Venmo, but on second though it actually makes sense - I'm guessing the Venmo userbase vs PayPal userbase is very different (PayPal skewing older than Venmo...) and this serves as a net-positive user acquisition strategy (since it requires both sides to have PayPal accounts!)
@jacoago Am I crazy or is this not a direct clone of Cashtags by Square? = https://cash.me/
@blendahtom Yes, exactly what I thought too! Square Cash didn't really go anywhere, so maybe paypal has the resources and user base to bring this concept to reality.
@ilyashassani That's the problem with most of startups: US-only, sometimes even focused on one city only.
With all things in anyway related to laws, Europe and rest of the world is totally ignored forever or "maybe in the future".
In reality this is quite strange, I can use PayPal in Europe, but can't use this exact PayPal service.
I like that it's so simple. I've been wanting to use Square Cash since it launched but since it's not available in the UK still, this seems like a pretty good alternative.
@ddmirolli it's possible they knew about $Cashtags well before its launch but PayPal must have been working on this well before it's public reveal.
@ddmirolli @rrhoover um, you do realize that square cash tags in itself was a clone, right? Check out www.ribbon.co which came out about 6+ months before and launched on techcrunch
@_jacksmith good point. We're all clones of each other. And something something great artists steal. 😁
@rrhoover The even deeper story is my lead designer saw a tweet from me from early 2014 (https://twitter.com/billwscott/s...) where I created a simple biz card with just my @billwscott moniker and a list of places which that is my handle. She immediately thought there should also be a PayPal destination for p2p like the other key services. It was months later at Oct 2014 hack that the idea was created and won 3rd place overall. I had zero to do with the idea or the product. It was just my silly tweet that inspired her.
It is my understanding that square accepts payments from debit cards only, while this product appears to accept credit cards as well (through paypal).
Mysuper.fan