PayPal has been, to my mind, one of the success stories of the Web. A useful service, something that the “little guy” can leverage, and something I’ve used myself for transmitting small cash payments to folks who don’t want to screw around with credit cards.
So why all of a sudden are states such as Louisiana up in arms over PayPal, claiming that it is acting as a bank? Are they not getting their cut? Are wire services and traditional banks finding PayPal’s simple model too threatening of a competition?
Feh. Next thing you know they’ll accuse Amazon.com of bookmaking.
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