Is paypal a reliable payment processor?
By mrguy82
@mrguy82 (12)
Philippines
1 response
@owlwings (43910)
• Cambridge, England
19 Feb 10
Don't believe everything that you read on Upbux. They have given their version of the story but they seem to have left out some rather important details - like what reason did PayPal give for 'limiting' their account. PayPal do not (as is sometimes claimed) limit or close accounts without reason. They would not have been around as the foremost payment facilitators for so many years otherwise.
Upbux have obviously done something which is in violation of PayPal's Terms but, of course, they won't tell people that, will they. They admit that most of their money was kept in their PayPal account which is a clear indication of bad business. Any business worth it's salt would use PayPal for payments only and keep the bulk of its assets in a bank account.
People who fall foul of PayPal have generally not read and observed the Terms and Conditions properly.
@owlwings (43910)
• Cambridge, England
20 Feb 10
A scam is something that deliberately sets out to defraud customers. I don't think that Upbux did that. I do think, however, that they were very unbusinesslike and that they have been hoist by their own petard.
Unfortunately, it is practically impossible to check how a business operates internally and, while it may appear to have every good intention of being a reliable payer, the way that it runs its financial side may well be open to question.
It appears that much of Upbux's finances were tied up in PayPal and, when PayPal froze their account (which will have been for legitimate reasons, clearly set out in PayPal's Terms of Service), they were unable to pay their members.
The way they have reacted (by publishing very one-sided - if not actually false information) is particularly immature and demonstrates that they are not capable of running a business.
Just another site that has gone under through bad management, I can believe. I do not think that they were/are a scam, however. Please learn the proper meanings of the terms you use!
