Maybe it's because i am in Europe, where paypal is regulated as a bank and has a ton more due diligence to do, but i use paypal extensively for business and i just don't see those problems. My account was restricted a few times always asking for further documentation after which it was restored (it does take quite a long time, but not more than a bank would). That actually makes them more trustworthy to me, because i know they are actively fighting fraud.
Contrast that with facebook: When i received my facebook credits payments, their support team was quite clueless when i asked them what is their billing address and VAT no (required here in Urop). they even gave me the wrong info that the payments came from the US, which resulted in me being fined for misreport.
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Psychologically, they rank below Paypal in my mind ... and that's pretty low.
You're certainly far, far from the norm because PayPal has tens of millions of active accounts and even people who hate it use it.
So, the biggest barrier for fb for me has nothing to do with trust and more to do with acceptance by merchants.
Maybe it's because i am in Europe, where paypal is regulated as a bank and has a ton more due diligence to do, but i use paypal extensively for business and i just don't see those problems. My account was restricted a few times always asking for further documentation after which it was restored (it does take quite a long time, but not more than a bank would). That actually makes them more trustworthy to me, because i know they are actively fighting fraud.
Contrast that with facebook: When i received my facebook credits payments, their support team was quite clueless when i asked them what is their billing address and VAT no (required here in Urop). they even gave me the wrong info that the payments came from the US, which resulted in me being fined for misreport.
Trust facebook? Maybe in 10 years.
> PayPal ... and even people who hate it use it
[imo] should read
and even people who hate it _have to_ use it