The manager of Alliance Bank wants to render Paypal as an unsafe payment channel and platform. He can only keep accusing Paypal of failing to obtain a federally issued license and operating illegally.

As for the account security insurance provided by PayPal, they have also been accused of having ulterior motives.

But at this time, the TV host suddenly asked, "So, will Alliance Bank lower the transfer fee like Paypal?!"

As soon as this question came to his mind, the manager of Alance Bank was speechless for a moment. He opened his mouth many times but was speechless. Why did he come here today? Is it not to boycott Paypal? If it is the same as Paypal, it will reduce the procedures.

Fei, then what is he doing here?

Handling fees are how many small and medium-sized banks in America rely on to survive. They do not have that many big customers and do not participate in so many investments. They can only rely on transfer fees and credit card handling fees to survive. If the handling fees are reduced, then they will

It’s not a question of whether you can make a profit or not, but whether you will lose money and close down.

After a long while, the manager of Alliance Bank said, "Paypal is competing maliciously. It is destroying the banking industry in America, and may have unimaginable consequences in the end!"

Hearing these alarmist words, the program host suppressed his laughter. Many people in front of the TV who saw this scene couldn't help but laugh.

No one knows whether Paypal is good or not, but what the manager of the Alliance Bank said, lowering the handling fee is destroying the order of the American banking industry and will have disastrous consequences for the American people. Hearing this

At that time, many people couldn't hold it in any longer, and they wouldn't even pull off a joke like this!

"What do you think of the Paypal Money Market Fund PMMF launched by Paypal? The interest it now provides to users has exceeded 1.8%. The size of the PMMF fund has exceeded US$24 million today, becoming the fastest growing money market fund in history!"

The host asked the manager of Alliance Bank with an exclamation tone, Paypal's pmmf fund is actually a replica of Yu'E Bao.

Because the interest rates on deposits and loans in America are not high, you can get some interest on the money you put in Paypal, and you can earn some money to buy hamburgers and coffee. In addition, there is no limit to the investment amount of the PMMF fund through Paypal. It only costs ten dollars.

With the ability to invest, the size of the Paypal version of Yu'e Bao pmmf fund began to snowball, from more than one million US dollars yesterday to more than 20 million US dollars today!

After hearing the size of PayPal's PMMF fund, the audience could clearly see through the camera the beating veins on the face of the manager of Alliance Bank, and he was obviously extremely angry.

The manager of Alliance Bank feels that Paypal is trying to cut off the roots of small and medium-sized banks like Alliance and lower transfer fees in order to prevent small and medium-sized banks like them from making US dollars.

Now what kind of pmmf fund is launched? It is obviously to compete with these banks for deposits. They will not let go of even ten dollars. It looks so ugly. If this continues, who will go to their bank to deposit money? This is

You need to dig out their roots directly!

"ABA Banking Association, Federal Reserve Board, Federal Office of Currency Supervision, Federal Financial Examination Committee..."

The manager of Alliance Bank, with a serious face, spoke to the camera a long list of names of federal agencies. These federal agencies have the power to manage federal banks, investment banks, insurance and various financial institutions. This is natural.

It includes Paypal. Although there are current federal laws, I am not sure what Paypal, which mainly focuses on the Internet, is.

This is Chi Guoguo's warning. The manager of Alliance Bank has already named it, just to see if these federal financial industry regulatory agencies will continue to pretend to be deaf and dumb and not take care of Paypal!

After leaving the recording room of the TV station and arriving at a hotel next to the TV station, the manager of Alliance Bank entered a presidential suite in the hotel. There were already many people sitting inside, whispering together.

Before, the manager of Alliance Bank had never thought that one day he would meet people from so many banks, including Woodison Bank, Esto Bank, and First Horizon Bank.

It is said that peers are enemies, and this is not true at all. They are all small and medium-sized banks, and the users they usually compete for are those people. It is nonsense to say that there are no frictions and struggles!

But now, these former rivals are all gathered together.

"What's going on now? What's the attitude of banks like Goldman Sachs, Morgan, Wells Fargo, and Citigroup?"

As soon as he came in, he drank a large glass of water and took off his tie. He asked the bank managers in the room that they came to New York this time to stir up public opinion and to unite the big banks.

, clear up paypal together.

Gu Quan

The bank managers who were asked shook their heads for a while. The manager of Esto Bank gritted his teeth and cursed, "I think those vampires want us to go bankrupt. They will have a good bite. This time, Goldman Sachs, Citigroup, etc."

The bank ignored us and didn't even see Paulson or the others, saying they were busy with important things!"

Esto Bank managers did not see Paulson and other Wall Street big shots this time. They only found out that Paulson and the others had important matters to deal with. This made Esto Bank managers feel that Wall Street wanted to see

Then they fell, swallowing up all these small and medium-sized banks.

But this is an injustice to Paulson and the others. Paulson really didn't care about this at this time. They had already decided to go to Asia. Wall Street really couldn't care about it, but for these uninformed small and medium-sized banks,

I feel like I have been abandoned and become cannon fodder against Paypal!

"damn it!"

The person in charge from the Bank of Hawaii also cursed angrily, "We have applied for sanctions against PayPal in the state of Hawaii and terminated PayPal's business in Hawaii. However, if Wall Street does not support it, it will take at least half a year for the state of Hawaii to pass the proposal.

The above time may not necessarily be used!"

This is where these small and medium-sized banks are embarrassed. Paypal has no offline business locations. At most, it relies on the business locations of Comerica Bank, Bank of Hawaii, and Alliance Bank, which can shut down PayPal's business locations in Hawaii and Arizona.

Is it possible not to allow users in these places to access the Internet?!

It is true that Bank of Hawaii and Alliance Bank have a lot of influence in various states and localities, but Paypal is on the Internet, and there is no federal law that makes transfers, payments, and funds through the Internet illegal.

Even if you want to sue Paypal, you can't find a reason. If you want the local state to ban Paypal, it will take a lot of effort!

While a group of bank managers and representatives were angrily cursing at Paypal, one bank manager was already wailing, "Your bank may ban Paypal from doing business in the local area, but Bank Prosperiti does not."

There is no way to avoid it. In two days, Prosperiti Bank lost more than 800,000 users!"

Listening to the wailing sound, all the bank managers in the suite looked at the man with sympathetic and helpless looks. After hearing the discussion of the people around him, the manager of Alance Bank couldn't help but look at the man with sympathetic looks.

Because the headquarters of Prosperiti Bank is in Houston...

The registered headquarters of Paypal is in Houston, Texas, and they have found out who the big financier behind Paypal is, and it is none other than Song Yang.

Think about it, the financial backer of Paypal is Song Yang, and its headquarters is in Houston. According to the information obtained from various channels, there is no need to mention the relationship between Adrian, the mayor of Houston, and Song Yang.

Banks in other states can still quarrel with Paypal and find connections to try to ban Paypal from operating and soliciting customers locally, but Prosperetti wants to ban Paypal in Houston?

I guess the reverse is more or less the same. In Houston, it can't beat Comerica Bank, which has teamed up with Paypal, and it can't avoid Paypal. As for Prosperiti Bank, which has an annual revenue of more than one billion US dollars and a net profit of only 300 million US dollars.

I really can’t think of a reason why it can challenge Paypal. Even if I invite Liang Jingru to come over and sing “Courage” to it, it would probably be a bit difficult!

"No matter what the attitude of the big banks like Goldman Sachs and Morgan is, we must ban PayPal. All banks present must ban cooperation with PayPal. We must ask the ABA Banking Association, the Office of Currency Supervision and other institutions to impose sanctions on PayPal, and the Federal Reserve must as soon as possible

Commission passes ban on PayPal!”

The manager of Alliance Bank said in front of everyone that he knew that the most important thing was to pass federal laws that would prohibit or at least restrict Paypal from causing trouble in the banking industry. Otherwise, there would be no way to stop Paypal.

With the emergence of Paypal, two different styles have appeared in America. Big banks and investment banks such as Wall Street have not yet spoken out. I don't know whether they are indifferent or don't care. They have not expressed their stance on the emergence of Paypal.

However, small and medium-sized banks in America are clamoring to kill Paypal. Traditional financial and financial media in various states are also constantly questioning Paypal. They do not think that Paypal is a technology company, but more like a shit stick.

On the other hand, ordinary users, especially companies engaged in e-commerce and cross-border trade, are very receptive to Paypal.

Amid such a storm of public opinion, Paypal did not respond at all, but it relied on constant issuance, discount coupons, etc. to attract people and develop users.

Five days after its launch, PayPal announced for the first time that it had more than 10 million registered users worldwide, opened services in 37 regions around the world, supported more than 40 languages, had a daily turnover of more than 89 million U.S. dollars, and the size of the pmmf fund exceeded 50 million U.S. dollars!
Chapter completed!