Pay Pal Payments To Pr

That does not make sense. Puerto Rico is part of the US. Arn't they bound to the monetary laws of the US?

"Puerto Rico does not have a local coin, using instead the United States dollar as its local and only currency. Because of this, Puerto Rico does not control its money supply nor its interest rates, being subject instead to the monetary policy of the United States particularly to the operations performed by the Federal Reserve System"

It appears the monetary policy is tied to the USA but they do have taxing powers of their own.

They have decided to tax PayPal transactions so PayPal and PayPal is pulling out.

"A two percent tax on person-to-person exchanges is now levied on transactions as per the Puerto Rican legislature via a bill passed in December 2014. According to sources, the two percent tax made it difficult for Paypal to continue to offer its services in Puerto Rico."

And there you have it. Over taxation once again limiting individual's freedoms.

you'll want to send this to tech, they won't see it here.

paypal broke away to be its own company again. they think its more flexible and maybe another company will buy them... and i'm hoping for that, maybe making it better or easier for those that can't use them.

---Mike Savad
MikeSavad.com

Yep - Puerto Rico is abjectly in debt (much like Detroit and several mainland US cities) and so taxation to draw more from the pockets of it's citizens to pay for what they have over extended themselves.

Carl Icahn, the corporate raider and one of the largest stock holders in eBay, forced the spinoff of PayPal to maximize share holders value. PayPay was/is growing faster than eBay and the stock holders of PayPal will be the benefactors of the split.

Most people do not realized that eBay was only about 1/2 of the transaction of PayPal.

If eBay would give Icahn his head they too would benefit. eBay is its own worst enemy. They think flogging their existing customers, their sellers, for higher fees is the way to grow the company instead of looking for new sources of revenues. When they do seek new sources such as they did with Skype and PayPal, they strangle them instead of letting grow.

PayPal is growing at rate of 19% a year, eBay only 10%. The split allows PayPal to grow with out being hindered by eBay policy.

Icahn is a genius. He is a brutal, insensitive jerk but a flippin' genius. If the government had listened to Icahn, General Motors would not be in depth, it would not be owned by the Chinese, Canadian, and US Governments. He would have saved it as an American Company.

I think FAA would fall under "customers may continue to use both platforms to pay for goods or services and to receive commercial payments online through Web sites and applications".
This is certainly commercial payments and not a person to person transaction.

bumping to displace spam.


---Mike Savad
MikeSavad.com