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Paypal
Skype, PayPal Lead eBay to Q3 Profitability
eBay posted revenue of $2.12 billion - a 12% increase and $228 million more than the same period last year - but not because of its online auction business, according to the Q3 earnings report (pdf).
Net income was $492 million, or 38 cents a share, a vast improvement over last year’s third-quarter $936 million loss (-69 cents a share), caused by a $1.4 billion charge from to the write-off of...
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eBay Turns into Just Another Online Retailer
Rumors that eBay was going to move away from its auction model and shift to fixed-price sales have been confirmed by the company, reports the New York Times.
The open marketplace that eBay is known for has lagged as consumers become less interested in auctions when presented with equally low-priced goods from online retailers.
eBay’s new pricing plan, which offers a 70% cut in upfront fees for...
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PayPal, Google Checkout Will Report Merchants to IRS
Starting from 2011, online payment processors (e.g., PayPal, Google Checkout) will have to report web merchants’ sales to the Internal Revenue Service, reports Internet Retailer.
The provision is part of the Housing and Economic Recovery Act of 2008 signed last week by President Bush and is expected to raise $9.8 billion in business tax revenue over 10 years.
Payment processors (i.e., any...
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Amazon Shares Payment Service
Online shoppers with an Amazon account will be able to take their account with them when shopping on other retail sites, reports the New York Times. A new payment service called Checkout by Amazon allows the 81 million customers to use payment details (e.g., credit card numbers, shipping addresses) already submitted to Amazon to buy products on other sites that use the same service.
They can...
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