Date: Thu, 29 Jun 2000 05:17:36 +0000
Reply-To: TOURBUS-Request@LISTSERV.AOL.COM
Sender: The Internet TourBus - A virtual tour of cyberspace
From: Bob Rankin
Subject: TOURBUS - 27 June 00 - The PayPal Revolution
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TOURBUS Volume 5, Number 104 -- 27 June 2000
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\___/ \___/ T h e I n t e r n e t T o u r B u s \___/
FIVE YEARS of Searchable Archives at http://www.TOURBUS.com !!
Hi All! Today we're going to visit PayPal, a free service that lets
you safely send money to anyone with an email address. You can also
collect money from an individual or a group of friends. And here's the
really cool thing: They can pay you by credit card, even if you don't
have a merchant account. READ ON!
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========================================
PAYPAL - SAFE ONLINE PAYMENTS FOR FREE
========================================
You can use PayPal to split a restaurant tab with friends, pay an IOU,
collect money for an event, or buy and sell items at online auctions.
If you can send and receive email, PayPal makes it safe and simple to
send or collect money online. PayPal is currently available through
email, Palm organizers and Internet-enabled mobile phones in the U.S.
The company plans to introduce PayPal to international users soon, and
also extend the service to other wireless devices, such as Web-enabled
pagers.
PayPal - http://www.tourbus.com/paypal.htm
PayPal reached the one million member mark in just a few months,
becoming the largest web-based payment network in the world. Their
secret to success was simple: Allow ANYONE to accept credit card
payments for online transactions. Before PayPal, you had to be in
business to apply for a merchant account which would enable you to
accept credit card payments. Typically those merchant accounts come
with a hefty setup fee, monthly fees and transaction charges (the
discount rate) that cost the merchant 3-4% of the purchase price. For
people who simply want to sell a few things now and then, a merchant
account is more trouble and expense than it's worth.
But with PayPal, there are NO fees paid by the buyer or the seller.
Now that's a revolution. PayPal has become especially popular with
the online auction crowd. By eliminating the "send a check in the
mail and wait for it to clear" hurdle, it really streamlines the
transaction AND gives both buyer and seller an increased measure of
security. Reporters from the Wall St. Journal, Financial Times, PC
World, and yours truly all agree -- PayPal is a good thing for
e-commerce.
HOW DOES IT WORK?
-----------------
After registering at PayPal, you can send a payment to anybody with an
email address by filling out a very simple form. The payment is
charged to your credit card or bank account, and the recipient gets an
email that says, in effect, "YOU'VE GOT MONEY!" I'm sure AOL is
working on the sound clip for this. :-)
If the recipient is already a PayPal member, the funds are simply
deposited in their PayPal account. Members have the option of leaving
the money there (to make future purchases), getting a check by mail,
or a transfer to a credit card or bank account. If recipient isn't a
PayPal member yet, no problem. As soon as they register, they money is
right there waiting.
If you opt for a check or bank transfer, it can take up to a week to
get the money. However, PayPal also offers "Business Accounts" with a
daily sweep of the funds into your bank account, for a small fee.
BETTER THAN FREE
----------------
Aside from the convenience of no-fee online money exchanges, you can
actually MAKE MONEY by using PayPal. When you register as a PayPal
member, you get a $5.00 bonus, plus an additional $5.00 for each
member you refer. So when you send a money request or payment to a
friend, both parties benefit from the bonuses.
There are no limits on the number of people you can refer, but PayPal
says these bonuses are "for a limited time". Your guess is as good as
mine, but it makes sense to "git while the gittin's good". :-)
ON A RELATED NOTE...
--------------------
Since PayPal is offering this really cool service AND paying a bonus
for referrals, Patrick and I have cooked up something we think you'll
really like -- a chance to get TOURBUS PLUS for FREE. In case you've
forgotten, here's the scoop on TOURBUS PLUS:
TOURBUS (the thing that you are reading right now) is a free,
twice-weekly Internet newsletter. TOURBUS PLUS is a paid subscription
service for people who can't get enough of TOURBUS. Published by
Patrick Crispen every Saturday-ish, TOURBUS PLUS is an exclusive
newsletter available only to TOURBUS subscribers, and is full of nifty
site reviews, web tutorials, and of course Patrick's famous and
humorous commentary on All Things Internet.
Normally, you have to pay US$10 a year to get a TOURBUS PLUS
subscription, but "for a limited time" we've reduced the price to just
$5. So if you signup as a new PayPal member and pay for your TOURBUS
PLUS subscription using PayPal, your net cost is ZERO! What do I mean
by "for a limited time"? It's like this... when PayPal's $5 referral
bonus program ends, this offer will end too.
It's a win-win situation. The $5 new member bonus YOU get from PayPal
wipes out the $5 subscription fee, and the $5 referral bonus WE get
cancels out the $5 discount we're offering. You get TOURBUS PLUS for
free, and Patrick can pay off those pesky student loans. :-) I know,
if you're outside the U.S. or you've already signed up for PayPal,
this offer doesn't apply. But you STILL get the $5 discount if you
use the regular credit card signup method. Please use the link below
to find complete details on how to participate in this offer.
PayPal - http://www.tourbus.com/paypal.htm
We hope you'll take the opportunity to discover and use the wonderful
PayPal service, and also get TOURBUS PLUS for free. But please do it
soon -- my guess is that the PayPal bonus offer will expire at the end
of June. That's all for now, see you next time! --Bob Rankin
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