Another story direct from the eBay/PayPal Dept of Spin …

Sensible people store their funds in licensed, prudentially regulated, FDIC-insured, financial institutions, and methinks retail payments will stay firmly in the hands of the retail banks and MasterCard/Visa whose “MasterPass” and “Visa Checkout” will eventually bury eBay’s clunky "PreyPal" operation.

One only has to look to all the hot air being pumped out of the Apple Dept of Spin and then compare that to the reality of the progress of Apple Pay to know that the great majority of people are perfectly happy with using their plastic “bank” cards ...

Unlike Apple (and presumably Samsung), the rest of the payments pretenders, such as eBay’s clunky “PreyPal”, are, in the main, simply “merchant” intermediaries—with all the disadvantages that non-dynamic interaction with the banks produces …

Likewise the MCX consortium’s clunky “CurrentC” which, if ever it is born, will likely be still born. And, no doubt the members of the MCX consortium will now be eagerly looking forward to dealing with the clunky PayPal—an operator that they would otherwise not have touched with a forty-foot pole—now that it has acquired Paydiant—LOL

Regardless, PayPal’s Schulman is delusional; the clunky “PreyPal” is itself little more than an operator of a credit card merchant account with its retail banker, and is now past its “best before” date … http://bit.ly/1nSA1Zl