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#39025 - 10/27/04 05:34 PM Yahoo! Announces PayDirect Closure
§intå× Offline


Registered: 12/03/02
Posts: 3255
Loc: Maryland
Yahoo! announced late last week that it will be closing its online payment service PayDirect next month as it struggled to compete with eBayís PayPal service. PayDirect didnít gain enough users to justify a continuation.

A Yahoo! spokesperson said that ďWithout the large user base to support PayDirect, the business doesn't scale." PayPal dominates the online payment market, reporting a 61% increase in users for the 3rd quarter, compared with 2003.

PayDirect will be available for transfers for existing users until the 22nd of November, and withdrawing of an account balance and viewing transfer history will be available until February next year. No new accounts will be available.

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#39026 - 10/28/04 02:23 PM Re: Yahoo! Announces PayDirect Closure
Gremelin Offline

Community Owner

Registered: 02/28/02
Posts: 7193
Loc: Portland, OR; USA
Good; Yahoo needs to die already... Bastards...

For note, I thought eBay was going to run PayPal into the ground; but they've actually done a pretty decent job...
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