Scott Thompson abandons the struggling eBay for the struggling Yahoo!
Oh, Scotty, why? Why? Why?
Well, obviously, Scotty could see Visa’s “V.me” iceberg ahead and decided to abandon ship before the tired old scow, eBay, hit that berg—a very smart move, and ...
“Study Sees PayPal Adoption Down Among Multi-Channel Merchants
“Twenty-two percent of EPIS merchants who had accepted PayPal on their own websites and off-eBay stores in October 2010 stopped accepting PayPal as a payment method on those sites in October 2011.
“There were 19% more merchants who accepted credit cards on their own websites and stores in October 2011 than in October 2010.”
And, Visa is to launch its new online payments gateway “V.me” this year. The idea is similar to that offered by PayPal: you upload details of your payment cards to Visa—even if they're not Visa-branded—and Visa will process the payment—directly with your banker—without revealing your card details to the merchant. So, the use of such a “professional” system should reduce the risk of online credit card fraud on both payers and payees to virtually zero.
Off-eBay online merchants will be able to free themselves from the most unprofessional, parasitic, unscrupulous and “clunky” PreyPal. And, undoubtedly, PreyPal will then atrophy back to it’s mandated use on the eBafia marketplace only, from whence, without its mandated use thereon, PreyPal would never have had the success that it has had. Unfortunately, there is no relief in sight for on-eBay merchants.
But, be in no doubt that, except for its mandated use on whatever will be by then left of the Donahoe-atrophied eBay Marketplace, the clunky PreyPal will elsewhere be quickly buried by Visa’s professional online offering, “V.me”, once it is up and running this year. Thereafter, as eBay continues to sink lower and lower in the water, so will PreyPal.
And, as for the possibility of the clunky PreyPal moving into EFTPOS at B&M in competition with Visa/MasterCard—this is pure science fiction—“Beam me up Scotty”.
Then, there is that other little problem of corporate image: the eBafia and PreyPal have become the two most despised commercial entities on the planet, even more hated than “the banks”, and that has taken some doing, and that will have an ever-increasing debilitating effect on both clunky operations.
So, no more underpinning of eBay’s sagging bottom line by the clunky PreyPal. What is the “eBafia Don” to do now? Maybe, if Mittless Romney wins the GOP nomination we can hope that he will pick as his running mate his fellow “Pain from Bain”, the headless turkey, John Donahoe. Donahoe’s nearing the completion of his destruction of the eBay marketplace and so he should soon be looking for an even bigger challenge.
It appears that Scott Thompson was smarter than we thought; after all, he would know the real situation at PreyPal and he undoubtedly recognises that the clunky PreyPal is on the cusp of commencing its journey down the gurgler, and he has jumped off the tired old scow “eBay” before it finally goes submarine.
“PayPal will become bigger than eBay in the next 3-5 years”—John Donahoe, eBay Analyst Day, 10 February 2011
Notwithstanding his obviously delusional mental state, eBay’s chief headless turkey has got that right: undoubtedly PreyPal will be bigger than eBay soon, but it won’t be because PreyPal has gotten any more successful, just the opposite—Visa’s V.me will see to that; it will be because the eBay “house of cards” has finally imploded.
And, who but a total idiot would invest in a PreyPal IPO now?
It appears that Donahoe genuinely was surprised by Thompson’s departure. Who then will now take charge of PreyPal? Surely, only a fool would take charge of this clunky entity now. Regardless, the real question now is, when is the “eBafia Don” also going to abandon ship, or be thrown overboard by the owners of the ship when they finally wake up to the fact that, all along, they have had “Captain Queeg” at the tiller?
Hang on, apparently eBay has found a fool to take charge of PreyPal ...
“Ebay Boss John Donahoe To Serve PayPal’s Interim President”
“PayPal claims PayPal Is Not a Payments Processor!”
And, if you still don’t understand why PreyPal has no future, visit http://paypalsucks.com/
eBay / PayPal / Donahoe: Dead Men Walking.