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Milly238

Paypal - Near instant transfer?

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So this is something i just noticed, it may have nothing to do with Ripple but just thought i would point it out.

 

I have been using PayPal for years, normally when you have a balance you only have 1 way to transfer it and that is to your checking/savings account.  This normally takes a few days to clear and go through.  

I just went to transfer my balance to my checking account and saw a new option (new to me).  It allowed me to transfer the money directly to my debit card attached to my checking account.  It went through instantly.  I logged in to my bank account a few mins later and there it was...cleared.

 

Do you guys think this has anything to do with Ripple or is this completely different?

 

 

Edited by Milly238

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5 minutes ago, rohanneal said:

Whats was the PAYPAL transfer fee by the way :)?

I believe they charged me 0.25 cent to transfer it.  They stated it could take up to 30 minutes to appear, but it was instant.  hmm :P

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Although I think making the link between Ripple and Paypal with the instant payment discovery is quite thin and maybe more whishfull thinking, I will add my two cents in this anyway ?. In the official announcement of the accelerator program Ripple made a reference to Paypal's adoption strategy (and sort of copying it). It could be nothing, could be a little bit Paypal bashing.. or a small hint in what might be comming. Woukd be an awsome alliance btw.

https://ripple.com/insights/ripple-rolls-300m-ripplenet-accelerator-program-grow-volume-xrp-utility/

Quote

Monica Long, VP of Marketing at Ripple, said: “We’re borrowing a page from the likes of PayPal (with their early days adoption and referral bonuses), implementing incentives to accelerate network effects on RippleNet.

 

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If Paypal was using Ripple, you can be sure Ripple would have already put our information regarding this partnership.

Paypal is a brandname that will attract more payment processors to join Ripple.

If it's good enough for PayPal, it's good enough for us.

The network effect will be great.

 

So .. yes.. I think the likelihood of Ripple is low.

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Personally having been working in banking and IT for 28 years, we will never know as a user how things work unless they tell us. Having worked on plenty of software upgrades for banking and financial companies its always transparent how it gets done. The user/customer only cares about cost and speed last thing 99.9 %  worry about is how,  there is no need to tell the end user is how it works, therefore who knows whats being used by whom...just my thoughts of course.. DYOR.  smoke and mirrors !!

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