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#39025 - 10/28/04 12:34 AM Yahoo! Announces PayDirect Closure
Joined: Dec 2002
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§intå× Offline
§intå× Offline



Joined: Dec 2002
Posts: 3,255
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 09:23 PM Re: Yahoo! Announces PayDirect Closure
Joined: Feb 2002
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Gremelin Offline
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Gremelin Offline

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Joined: Feb 2002
Posts: 7,195
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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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