I think because they’re a payment processor. Banks store large amounts of money, make loans, etc.
Somehow services like PayPal manage to avoid being regulated like a bank. I’m sure they’ll clobber together some potentially unlawful solution and not face any repercussions for it.
someguy3@lemmy.ca 8 months ago
givesomefucks@lemmy.world 8 months ago
It’s going to be like a crypto or PayPal wallet where you can store a balance, it’s just not insured or regulated like a bank.
I saw an article a while ago where a concerning amount of people were doing that instead of a bank account.
grabyourmotherskeys@lemmy.world 8 months ago
They issue credit and lenders finance this. There’s always a bank.
SpaceNoodle@lemmy.world 8 months ago
Cobble?
Deceptichum@kbin.social 8 months ago
The Things been put in charge of their legal team.
SpaceNoodle@lemmy.world 8 months ago
It’s cobblin’ time
makes shoes
CmdrShepard@lemmy.one 8 months ago
Yes, jesus thank you. It was right on the tip of my tongue.
harmonea@kbin.social 8 months ago
"Clobber" implies violence, which is somehow even less elegant than the standard phrase that the haphazard "cobble" implies. Given the shitshow of X so far, clobber probably works better even if it's not the usual way to phrase this at all.
Bizarroland@kbin.social 8 months ago
And despite cobble and clobber implying violence and inelegance, cobblers are either some of the best versions of pies or the people that maintain your fanciest of shoes.
notthebees@reddthat.com 8 months ago
iirc the money storage aspect of PayPal has to be regulated as a bank.