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Smashwords has posted a press release with an update about their dealings with Paypal here.
To me it sounds like a lot of justification and rationalization for some poor business decisions-- ie: to be so integrated with paypal that they can't change payment processors. They seem to be pointing at all financial institutions as being behind these demands, which is shady on a whole other level.
(Yet a little corner of my conspiracy-loving heart has to wonder if maybe the big NY publishing houses don't have their finger in this pie too. After all, aren't indie publishers and sellers the biggest threat on their horizon?)
And it's hit Huffpo.
To me it sounds like a lot of justification and rationalization for some poor business decisions-- ie: to be so integrated with paypal that they can't change payment processors. They seem to be pointing at all financial institutions as being behind these demands, which is shady on a whole other level.
(Yet a little corner of my conspiracy-loving heart has to wonder if maybe the big NY publishing houses don't have their finger in this pie too. After all, aren't indie publishers and sellers the biggest threat on their horizon?)
And it's hit Huffpo.