Internet marketing small part of online business ? Are you sure ?
Depends on how broad you want to go with the definition. If you want to use "internet marketing" as a synonym to online money making, everything is included. That's not what i meant. Just because someone sells his used garments over eBay now and then, he is not an internet marketer. That's not internet marketing, at least not in my book. Those are simple business transactions taking place online.
PayPal makes a lot of their dime on transactions, which has nothing to do with internet marketing, e.g. when you send money to someone, that's not free anymore in the vast majority of cases, when there's a currency conversion or when you withdraw your balance to your bank account.
Anyhow, that's not really the subject of the thread. The subject is your question: "Is PayPal dying?" And the answer to that is a strong no, as you can clearly see it from the replies posted so far and from the performance report i linked in my previous post.
Also we have crypto now where fees is much lower than PayPal.
Crypto for the usual folk is still not a viable alternative and it's not like it's a new thing either.
Where can you pay with crypto? Try to branch out from your bubble. Can you pay with it on Amazon or eBay? Can you pay with it at big online retail stores, clothing shops, Costco or your local tabac? No, you can't. This is a major issue right there.
People are in very different relations to crypto:
1. They never heard of it.
2. They heard of it, but they aren't interested in getting into it.
3. They heard of it and they are interested in getting into it. Some of these after realizing the hoops they need to go through to obtain it, the initial loss and the volatility, from that point they will belong to the second group and won't be interested in getting into it anymore. The rest will actually go through with it and become proud crypto owners.
4. They already have crypto.
Most people don't have crypto, they don't keep their money in crypto, they aren't getting paid in crypto. If they need to buy it, they lose money in the process, just like with any currency exchange. They may earn it back, they may not. Most people are not gamblers. What's the benefit of owning/paying with crypto for your regular internet shopper (in case if they can pay with it at all)? Exactly. There's none. Zero.
When you want to buy something, you go first and after you paid, you get the goods. What's one of the basic principles of cryptos? Once they're sent, you can't get them back. Now think like you're the buyer. Is it a good thing? Or is it better (=safer) for you to simply pay with dollars using a credit card, PayPal etc., while enjoying the benefit of PayPal's buyer protection or the ability to do chargebacks with your cc?
Let's summarize: the vast majority of regular people don't own any crypto. Those who do, can't pay with it, because it's not accepted anywhere they usually shop. On the rare occasion, when they can pay with it, they won't see any benefit of using it over PayPal, only disadvantage, because there's no buyer protection. People can never be sure about the actual value they hold, they won't like the volatility the slightest. It can be that you have just enough money to buy a pair of sneakers a given day, with you doing nothing a day after that you'll have enough for only half the pair and two days after that you can buy two pairs of the same sneakers.
Crypto can be the wet dream for some sellers, because of low fees, no chargebacks, but for most buyers it's a pest. And because it's a buyer's market, sellers will never have a say. Crypto will be stuck in its underdog role until some really big players start to accept it and at the same time they stop accepting PayPal and cc payments, which won't happen obviously.
There are also not enough of it to be a competitor to the dollar. Just play with the thought for a second, that from tomorrow (or from any date in the foreseeable future) the dollar is no more, cannot be used online anymore and only cryptos exist. In your opinion how big portion of the online businesses could close shop?
