Yahoo Shuts Down Their PayPal Competitor

LostCluster writes "MSNBC and ZDnet are both reporting that Yahoo and HSBC have announced a shutdown plan for their PayDirect service which was their rival to PayPal. Since CitiBank abandoned their c2it service last year, PayPal now seems to be a monopoly by default." There are other players in this field, though, like bidpay and worldpay.

PayPal bought it

[Anonymous Coward]

But they were using BidPay, so Yahoo will never see the money now.

In other news...

[bastardsquadmuzz]

...the American public cry out that the Dollar is a monopoly, and that Pounds and Yen should be allowed as well.

Re:I have never understood...

[Duncan3]

Awww, don't hate... even criminals need to do banking. And Paypal is PERFECT for them, designed to serve their exact needs.

Remember the Paypal slogan "We are not a bank".

Other players

[craXORjack]

There are other players in this field, though, like bidpay and worldpay.

Wasn't there one also called e-gold [e-gold.com] that purchases actual gold to back its electronic currency? Of course, if you had a lot of money in it and somebody discovered how to turn lead into gold, well then you'd be ruined. So its kind of a risky holding.

c2it dead too?

[Bitmanhome]

I'm not surprised, the c1it service was much more fun.

Re:In other news...

[peterprior]

..so paypal now accepts monopoly money ?

Re:No Alternatives

[wolverine1999]

It doesn't work in every country of the world however. Even some EU countries aren't allowed to use it.

Re:Nigging out?

[Anonymous Coward]

I personally believe that "black" is a pefectly acceptable, descriptive word, just as "white" is.
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I don't know about you, but unless you're a member of KISS, your skin is probably pink, just like mine.