EBay Acquiring VeriSign Processing for $370 Million 123
Forum124 was one of the first in a wave of readers to tell us that eBay is acquiring VeriSign's payment processing business for US$370 million. VeriSign will be merged with PayPal and is estimated to generate a 20 percent operating margin which eBay hopes to help offset the recently reported high purchase price of Skype.
does this mean (Score:4, Interesting)
Boost to Paypal? (Score:5, Interesting)
My experience tells me otherwise. I've been developing small business ecommerce sites for the past 10 years, and on every single development I've been part of we've tried to avoid Paypal integration simply because it puts users off. As I'm based in the UK I've had very little experience of Verisign's payment gateway, but if users have a worse perception of it than they do of Paypal's then I'd be really suprised.
Uhhhh... (Score:3, Interesting)
Googlezon, on the other hand... that could be sweet.
-- Justin Crites, Amazon.com Software Development Engineer
Verisign is teh suck (Score:5, Interesting)
In my professional geek career, I have yet to met a business that could top VeriSign's ability to cause grief, stress, development delays, and outrageous legal fees.
VeriSign is responsible for the collapse of the last company I worked for. We spent 2 years and hundreds of thousands of dollars designing and developing a retail solution based around a particular domain name. Unfortunately, the CEO fell victim of identity theft before we launched and some a-hole was able to acquire our domain names though ****ing VeriSign.
You'd think we'd be able to get them back easily. We had receipts and we didn't authorize the transfer. But, nooo. They wouldn't cooperate with our lawyers or the California Computer Crimes Task Force. It was SUCH a pain.
And I know I'm not alone on this one. VeriSign is the biggest POS.
I have several, less destructive, examples of being screwed by that company. But I'll spare you for now.
Hopefully, Ebay will make VeriSign slightly less crappy.
Can't buy credibility (Score:4, Interesting)
Since I'm evidently too tired to focus properly on the topic, I'll go ahead and add another CSS-related comment, since this seems to be a new symptom afflicting the abandoned-by-/. users of Opera. Now most of the left side links are dead, especially at the top. The overwriting problems aren't as bad as before, so it seems like they're tinkering with it.
Interesting side point (Score:3, Interesting)
They went internal some time afterward from what I heard but I often wonder if we actually just lost the contract to a lower bidder.
VeriSign as a Credit Card Processor (Score:3, Interesting)
I've actually had a great experience with them so far. They have excellent filters for blocking fraudulent orders (before switching, almost 10% of our orders were fraudulent), and the customer service has been excellent.
The payment services are basically a middle-man to your merchant bank. The customer is sent to VeriSign, they enter their payment information, VeriSign verifies the address, zip code, and CSC (three numbers on the back of the card). If all is well, they send the transaction through to your merchant bank. Your merchant bank then deposits the funds directly into your personal or business account.
Along the way they each take a small chunk of the transaction, and you also have to pay monthly fees to both VeriSign and to your merchant bank.
Taking credit cards in addition to PayPal definitely increased our sales. I can see why they want to merge this with PayPal, making it a much more versatile payment processing solution.