Why only paypal and ebay? Why top tech companies do not open such platforms?

[DashingAgent]

Why only paypal and ebay? Why top tech companies do not open such platforms?

Why only paypal and ebay? Why top tech companies do not open such platforms? Paypal is total trouble for all, your account gets locked when you receive large transactions or subscription payments, you cannot access your account once you have cleared the cache, your account will get limited if you received large payments, You will also have trouble to withdraw your funds from paypal. They disabled payoneer. There are many factors that people hate paypal. I want to know that why Microsoft, Facebook, Google do not try to launch platforms like paypal and ebay? they have billion of dollars so whats stops them? Amazon is also cannot be trusted anymore because it is not available worldwide, there are some restrictions for some countries and if you have sent your item where amazon is not available you and your buyers both will be in trouble if there is something wrong. I don't know that why Microsoft which is the biggest industry giant is still not able to make such softwares like paypal and ebay, Microsoft even can open banks worldwide, Only the bill gates have 100+ billion dollars alone, looks like he does not have any business mindset, he is just rubbing the money of people, paying microsoft is just a threat because your money will be just on their pockets, it will not circulate, it will not open new opportunities for jobless peoples because when the money goes into circulation, new job opportunities open, Google just launches google payments but due to the restrictions from US govt, they stopped it, If they wanted, they were able to register it from another region, Google was also able to open their own visa like system if they had restrictions in the US. But still don't know that what stops other?

[mk4]

It's simply because things aren't as easy as you think. Not because they have the funds that it automatically means that these companies' CEOs can just go "hEy GuYs LeTs JuSt BuiLd a NeW PaYpAL LUL" and compete against the other giants just because they can. I mean, the CEOs of these companies are some of the smartest and most talented people in Silicon Valley. If it was as easy as you thought, they would've built them already.

[DashingAgent]

In today's world, it is not difficult, if they make me their CEO, I will be able to do so.
People who have funds have no idea, people who have ideas have no funds. Thats truth.

It's simply because things aren't as easy as you think. Not because they have the funds that it automatically means that these companies' CEOs can just go "hEy GuYs LeTs JuSt BuiLd a NeW PaYpAL LUL" and compete against the other giants just because they can. I mean, the CEOs of these companies are some of the smartest and most talented people in Silicon Valley. If it was as easy as you thought, they would've built them already.

[Indymoney]

In today's world, it is not difficult, if they make me their CEO, I will be able to do so.
People who have funds have no idea, people who have ideas have no funds. Thats truth.

It's simply because things aren't as easy as you think. Not because they have the funds that it automatically means that these companies' CEOs can just go "hEy GuYs LeTs JuSt BuiLd a NeW PaYpAL LUL" and compete against the other giants just because they can. I mean, the CEOs of these companies are some of the smartest and most talented people in Silicon Valley. If it was as easy as you thought, they would've built them already.

You are right in this People who have funds have no idea, people who have ideas have no funds. Thats truth. but its not easy to have companies like this because its need some good marketing and many other things and in current situation many new laws and regional bans creating some serious problems for devs and CEO's to have companies like this quickly and easily.

[mk4]

In today's world, it is not difficult, if they make me their CEO, I will be able to do so.
People who have funds have no idea, people who have ideas have no funds. Thats truth.

It's easy to see things as a spectator saying that "if I was the owner I'd do x/y/z", but trust me when I say that these things aren't as simple as they seem if you're actually the one running the huge ass company that has crap ton of gears and moving parts. If you were the CEO, you might be able to make one, sure. But there's a big difference between creating a business, and creating one that could run successfully in the long-term while defeating your competitors.

There's a big obvious reason why they're CEOs of gigantic companies and we're not.

[Yogee]

People without funds sure knows how to talk a lot. Having an idea is one thing, Cost-Benefit analysis is another. Business owners and executives of Microsoft, Google, and Facebook may have thought of launching their own payment platform or marketplace before but decided it's too costly to set up the infrastructure then maintain. There is no need to apply for license and register in other countries too.

Facebook have a marketplace by the way but I haven't tried it so I don't know how that really works.

[Yamifoud]

Switching into a new platform is of high-risk, PayPal and eBay had taken it all but not the others. This is talking about the capabilities of every company to manage this and I'm not sure they are ready enough to finally on the switch. Most companies have their insight and vision in adopting the new platform but of course, they need to make things clear and ready for the change. These 2 companies are long enough into online business which could be easy for them.

https://www.forbes.com/sites/forbespr/2020/02/19/forbes-releases-2nd-annual-blockchain-50-list-of-companies-embracing-the-technology-underlying-cryptocurrencies/#19c9c92b17c5

[davis196]

Google created Google Pay(which isn't available worldwide,but they might expand that service).
Facebook had plans to create their Libra coin,but I guess that this project will never launch.However,I heard that Facebook might launch a "Facebook pay" feature.
Amazon has a payment gateway called "Amazon Pay",if I remember correctly.
Microsoft is a company,which sells operating systems,software and Xbox games.Why would they bother creating "a new PayPal"?
All the tech giants I mentioned are accepting credit/debit cards and there's no reason to switch to another payment method,since 99% of their customers are comfortable with using credit/debit cards.
PayPal is an unnecessary middleman service,which makes millions of dollars out of transaction fees and blocked funds inside accounts that were limited and flagged as suspicious.

[beerlover]

Not because it is difficult to do, which it is but also there is a risk of not being able to be successful. For example amazon is one of the biggest companies in the whole world, don't you think they can afford to build a payment processor like paypal? That would be used everywhere and not just on amazon?

Of course they can build one, but we don't know if it will be loved, maybe it will have problems, there is cost of marketing to make it big, you are getting on a share of the pie and also you need to build it from zero which takes time, why not buy paypal instead? So it is possible to do it, but big companies who can afford to do not want it because of all the challenges that lay ahead, there is easier methods of doing that like acquisition that they rather prefer.

[CucakRowo]

Beside what Mk4 already mentioned. Don't forget. so many rules and standards you must have when you are financial spaces. Many rules must be obeyed. And usually those rules and standard are mandatory. For silicon valley person, they will say "that's too much".
Also, the core business of Google, Microsoft and others is not in finance, but in technology. If they decide to enter financial business, it is not certain that the new business can be accepted by their customers and it is not certain that the business will bring more profits and benefits for the company. There are still many things to consider.

[Lorence.xD]

It's simply because things aren't as easy as you think. Not because they have the funds that it automatically means that these companies' CEOs can just go "hEy GuYs LeTs JuSt BuiLd a NeW PaYpAL LUL" and compete against the other giants just because they can. I mean, the CEOs of these companies are some of the smartest and most talented people in Silicon Valley. If it was as easy as you thought, they would've built them already.

I think OP has a point, competitors breed new policy for existing services. I agree that there will be problems and it is not easy as you say but no harm in the idea that tech giants release their payment services. Unfortunately, companies have different priorities and no harm with that.

[mk4]

I think OP has a point, competitors breed new policy for existing services. I agree that there will be problems and it is not easy as you say but no harm in the idea that tech giants release their payment services. Unfortunately, companies have different priorities and no harm with that.

"No harm", except millions and millions of dollars in development, planning, advertising/promotions, and potentially another good amount of wasted millions whereas they could've been allocated in other things if the platform ended up failing.

They are simply more incentivized to create new products with less competition than going all in and competing with the already existing and almost "full-grown" platforms.

[leea-1334]

Why the need for top tech companies to do that? You already have Bitcoin it is the biggest tech organization in the world right now that is so powerful and yet decentralized. Development goes on with it almost at such incredible speed now and daily there are improvements and progressions done to it like we could never imagine for other companies.

[Harlot]

From what I know Google and Facebook (Pre-Libra) has their own respective payment solutions within their services. For Google they have Google Pay which is their equivalent for Apple Pay and aside from that various phone manufacturers have their own payment methods in the Android industry where Samsung and LG has one. For Facebook they have payment solutions for streamers as well as in their messaging system. So you see big companies are not missing any opportunity in having their own payment solution I think the problem really here is either there is too much options or these options made available are not that so popular since they are not one of the pioneers in the segment.

[sheenshane]

What I would highly suggest to you is to have an accountant.

I tend to agree with Mk4 that it really isn't that easy to do what you are currently asking. But I know your concern and I deeply understand it.
But if I were you, I would have an accountant to do everything for me.  Since you are concerned with large transactions then hiring an accountant will definitely help you. They have all the tools you need for your transactions not to be locked. Speak to them for further details, but I can rest assure you. They are the ones that can help.

Online platforms are made to have a basic financial structure. So avoiding what has to be avoided and cleaning what has to be cleaned doesn't work on this. The government will never let these platforms have that. Go get an accountant and fix your problem, IMO.

[EdenHazard]

From what I know Google and Facebook (Pre-Libra) has their own respective payment solutions within their services. For Google they have Google Pay which is their equivalent for Apple Pay and aside from that various phone manufacturers have their own payment methods in the Android industry where Samsung and LG has one. For Facebook they have payment solutions for streamers as well as in their messaging system. So you see big companies are not missing any opportunity in having their own payment solution I think the problem really here is either there is too much options or these options made available are not that so popular since they are not one of the pioneers in the segment.

Yeah complicated regulations are the only thing that stopped them going further , you just feel bad when mark zuckerberg being tortured at the congressional inquisition back in 2018 .. those regulator maker just had no idea about what mark doing at his company.
Maybe for now mark avoiding the same thing happened if he insist to launch the libra project , waiting for the right moment which i believe the time will come soon.

[milewilda]

It's simply because things aren't as easy as you think. Not because they have the funds that it automatically means that these companies' CEOs can just go "hEy GuYs LeTs JuSt BuiLd a NeW PaYpAL LUL" and compete against the other giants just because they can. I mean, the CEOs of these companies are some of the smartest and most talented people in Silicon Valley. If it was as easy as you thought, they would've built them already.

True, people do really say things as if they we're easy to do or to be done by someone even if they had the power and fame but actually companies had stood their ground for centuries cant really be easily defeated by just new one even though its tied up with a known company but it doesnt mean that it will guarantee success. Business owners wont really tend to make a step without further analysis because this doesnt only talk about
hundreds of thousands worth of usd but rather do talk about hundreds of millions or even billions.They can indeed create if they wanted to but they do just decide to focus out on what they had started and polish it
over all the years and tend to remain into the top spot on a certain industry.You cant just have it all in one place.

[el kaka22]

Having your own payment solution and letting others use it are different subjects. If you can pay facebook with your credit card, that is what you can do, pay them with your credit card, it is not really a solution, or you could even pre-pay for your expense beforehand and use it later and be charged without paying further.

However google (which I think should have it) or facebook doesn't have a payment solution that you can use on your own website for selling something, that is what paypal has for example. This is what we are talking about a payment processor that can be used everywhere around the world. Now considering both google and facebook are big enough that they are known and used everywhere around the world, if they had something like paypal, it would have been used a lot as well.

[iamsheikhadil]

The thing is, when a platform has really built a great good-will, it's really very hard to compete even if the competitors are tech giants. If we let's say compare Google to Facebook, Google has more money power. Still, we rarely use Google Hangouts as much as we use WhatsApp! It's because of marketing. PayPal has made a very nice good-will among its users and while no business is ideal, decline of every company is inevitable, PayPal as well will fall down and something new will come up.

[stompix]

Why only paypal and ebay? Why top tech companies do not open such platforms?

Why only Facebook? Well, Google tried, and failed! Why only Windows?
Don't you think others have tried or at least made a plan about one and then realized it might not be successful?
Why is amazon unchallenged or youtube or many other services, mainly because things are not so simple as one customer might think they are.

I don't know that why Microsoft which is the biggest industry giant is still not able to make such softwares like paypal and ebay, Microsoft even can open banks worldwide, Only the bill gates have 100+ billion dollars alone, looks like he does not have any business mindset, he is just rubbing the money of people, paying microsoft is just a threat because your money will be just on their pockets,

But you understand why they've managed to come up with only a. let's say at least crappy search engine, right?

Not going to quote the rest, but you realize that for every person that complaints about one case with Paypal or eBay there are hundreds if not thousands of users who are happy with them, people don't come to social media to say, everything was ok, people come to complain, just as for every client that is unhappy with his car there are a million others who drive with no problem night and day and don't say a word.

True, people do really say things as if they we're easy to do or to be done by someone even if they had the power and fame but actually companies had stood their ground for centuries

Decades at best in this case and there are more one-century old companies that have gone bankrupt than the ones still surviving.