Where do major online ecommerce sites store money?
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04-28-2014, 12:00 AM
Post: #1
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Where do major online ecommerce sites store money?
A lot of online stores use Paypal and Amazon Payments to receive their online transaction payments. I've always been curious where Ebay and Amazon store their money. Do they have their own place where they store the money without paying fees on it? Or do they use merchant accounts with a bank?
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04-28-2014, 12:04 AM
Post: #2
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Businesses don't keep big caches of money. They deposit their accounts in the bank like everyone else.E stores collect their money from checks, paypal and credit cards just like all stores and then they deposit it. in their bank. It is just a type of money transfer.
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