In this article, we will thoroughly explore the fascinating world of PayDirect. From its origin and evolution to its impact on current society, we will delve into all the relevant aspects related to PayDirect. Through a detailed and exhaustive analysis, we will seek to better understand what PayDirect means and how it has influenced the way we think, act and relate to the world around us. From its importance in academia to its relevance in popular culture, we will discover all the faces of PayDirect and its role in shaping our current reality.
This article needs additional citations for verification. (March 2023) |
This section needs expansion. You can help by adding to it. (January 2020) |
Industry | payment service provider money transfer service |
---|---|
Founded | March 2000 |
Defunct | November 22, 2004 |
Fate | closed |
Parent | Yahoo! |
Yahoo! PayDirect was the name of a person-to-person money transfer service by Yahoo! via HSBC, competing with Billpoint and PayPal.
Yahoo launched PayDirect in March 2000 after purchasing Arthas.com, a provider of electronic billing services. Arthas' dotBank.com service allowed customers to make online bill payments and to exchange money with other customers. When Yahoo took over the site, the accounts were managed by the international bank HSBC.
In 2000, Yahoo extended the Yahoo PayDirect service to mobile phones, as part of its Yahoo Everywhere initiative.[citation needed]
Yahoo PayDirect was initially launched with CIBC National Bank as the financial partner (based in Maitland, Florida, and a subsidiary of CIBC - one of the major Canadian banks). The service was subsequently migrated to HSBC.[citation needed]
The Yahoo PayDirect service was discontinued effective November 22, 2004, leaving only a web page (biz.yahoo.com/paydirect) showing "The PayDirect service and website is closed and now unavailable."