The online payment page is marked: Powered by PayPal". While the idea really caught by eye, I predict that this will FAIL in the mark place.
Why do I predict this direct bank withdrawal not take off in the market place as a payment system. Because it primarily addresses the vendor's issues. For a vendor, it probably reduces the fees from credit card processing. It probably speeds up payment. It might also cut down on chargebacks but all of these issues matter only the vendor.
From a consumer's point of view, I'm less likely to share my bank details than my credit card details. Also, I don't carry my bank details around with me whereas I do have my credit cards in my wallet.
Heh PayPal, do you have any views on this? Am I missing the point?
|Online Pay with Online Bank Account|
In contrast, I paid for my lunch today with ApplePay. WOW, that was fast and easy!