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Paypal Makes Million dollars from 10 days

Paypal just showed their business secret / tactic of how to make money fast.

If you see the many payment processors they are having little tough time of making money. Many pyment processor like moneybooker.com , alertpay.com are struggling to take the market share. But paypal made a million $ profit from indian market in just 10 days that to from only Indians.

you can see one blog post about paypal tactic of making money by holding users money in bank and enjoying the interest of that money.

Here is a sample transaction from my paypal account

29-Jan-2010 Currency Conversion Completed Details -$200.00 USD

29-Jan-2010 Currency Conversion Completed Details Rs.8,956.34 INR

09-Feb-2010 Cancelled Transfer Completed Details Rs.8,956.34 INR

09-Feb-2010 Currency Conversion Completed Details -Rs.8,956.34 INR

09-Feb-2010 Currency Conversion Completed Details $185.22 USD

i lost 14.78$ for their crappy processing system

so just imagine how much money they have made from this kind of scam from all paypal indian users.

when we withdraw they gave currency rate 44.7817

now when they adding to amount they want 48.35 ( even now it is 46 )

so basically it is a well planned scam from paypal company.

After these lot of idiotic moves this company not given any explanation still. Because it knows how effectively scam users withouth being caught in the legal way.

7 Responses to “Paypal Makes Million dollars from 10 days”

1. vinsar says:

   09/02/2010 at 2:15 pm

   At many places I had warned Paypal’s Indian users not to withdraw in this period as I was expecting the same.

   There are other discrepancies too, like paypal pays you in INR while taking the benefit of foreign currency earning themselves, whereas it should have been your benefit.

   I think a class action should be taken against Payapl by Indian users.
2. Mandeep says:

   09/02/2010 at 3:28 pm

   Its very time for us and our business too. They don’t understand that there are lakhs of people are effected with this scam. Many don’t get there salaries etc.
3. paypal says:

   10/02/2010 at 7:18 am

   use xoom better for transfer
4. jatin17 says:

   14/03/2010 at 5:51 pm

   dude for ur info .
   they will return the cut off amnt back to ur PP.

   read their blog.
   and some amnt will be trasferred to ur bank
5. admin says:

   14/03/2010 at 8:23 pm

   jatin17

   they were not authorized to do bank money transfer.

   yeah i know i got the money back but only after asking. anyway its not professional way of handling.
6. FvCK PAYPAL says:

   19/03/2010 at 7:21 am

   F@CK PAYPAL !!!

   I knew something was fishy when they were trying to hold of % of my incoming money for 60 days ” just incase some one wanted a refund ” well i am glad I DONT USE THEM AT ALL F@CK PAYPAL !

   IM IN THE U.S.
7. Siva says:

   18/07/2010 at 3:29 pm

   But that did not stay for long time, right?
   But yet are gr8 way to get it to Bank account easily !