Comments: Correction: Bitpass Loves Paypal

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Personally, I think it's a huge inconvenience to people (like myself) who prefer to use Paypal to shuffle around small amounts of money online.

Just looking around for this on the Internet, and I can't find a peep about it except here and on waxy.org.... Surprised no one has picked this up and started spreading it around like wildfire...

For sure, it certainly isn't helping Bitpass out at all. Its annoying and might prevent some business. At the same time though the show can go on. My guess is that Bitpass has enough documentation to make a damn strong case that they aren't in violation of the Patriot anyway. The impression I've gotten from talking to Kurt Huang (the CEO) is that they know the legal issues inside out. I suspect there is a good chance Paypal will back off when its clear that Bitpass won't just rollover. If not I smell a legal battle.

The one thing I don't get is why Paypal is acting like this. Bitpass clearly sees itself as being complimentary to Paypal not a competitor. Perhaps Paypal is scared by the way Bitpass has lowered the friction involved in online transactions even more then Paypal did?

djspicerack, I submitted the story to slashdot where it get turned down. Last time that happened to me they ran the story 6 months later, go figure. Can't hurt to send the story round a bit, although I have a feeling Bitpass just isn't on many people's radar yet.

William -

Interesting that that happened - but what can you do - slashdot covers what slashdot feels like covering. personally, I feel that if it's worthwhile, it'll get picked up.

To be honest, I know it has to have some legs, as I have someone from paypal.com in my referrer logs earlier today, after they searched for "bitpass" on Feedster's site.

I'm a PayPal employee and wanted to update readers on the status of the PayPal/BitPass relationship. Over the weekend BitPass' PayPal account was suspended pending assurances that BitPass and PayPal were in compliance with the US Patriot Act given the nature of the respective companies' services. PayPal did not intend to disrupt payment processing and we are reviewing our procedures to ensure that this situation doesn't happen in the future. PayPal has been in direct contact with BitPass on the matter and BitPass' account was fully restored this morning. Contrary to speculation, this incident had nothing at all to do with competitive issues and in fact PayPal supports companies such as BitPass, Cybersource and Xoom that are building complementary services.

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