Ebay chief executive John Donahoe said the Chinese government won’t let foreign-owned internet companies win in that country, but added PayPal will nonetheless bend to fit new rules and stay in the market. Read more
As UK police said they arrested the alleged second of four co-founders of the hacking supergroup Lulz Security, one of those still at large branched out into a legal form of protest, promoting a boycott of PayPal. Read more
On eBay at least, we are already living in the “post-PC era”.
Figures from its UK site show that tablet devices such as Apple’s iPad – which prompted Steve Jobs to coin the “post-PC” phrase – are now outselling traditional desktop computers. Read more
An unscientific survey of employees at major US technology companies found that only 50 per cent of Yahoo workers approved of chief executive Carol Bartz’ leadership during the past year, down from 77 per cent as she got started. Read more
Indian PayPal users can once again use local banks to withdraw money from their accounts, resolving a hiccup that for weeks had prevented users in the world’s second most populous country from getting cash from their accounts.
The trouble began last month, when Indian regulators threw a wrench into PayPal’s business in the country as they investigated whether PayPal, the world’s largest online payments company, should be considered a remittances business.
As a result, PayPal stopped allowing users to transfer funds directly from one personal account to another, and also made it impossible for its customers in India to withdraw PayPal funds through a bank, effectively shutting down the only method for retrieving an account’s balance. Person-to-person transfers will likely be suspended for a few months as the company works with regulators to obtain new licenses that will allow it to legally handle remittances. Read more