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Home > Network/Internet > PayPal releases Seller Protection Program

PayPal releases Seller Protection Program

PayPal announced an update for transactions to covers both buyers and sellers of domain names. Previously, PayPal’s protection guarantee only covered buyers of domain names.

Seda Nur Cinar by Seda Nur Cinar
August 10, 2020 4:04 pm
in Cybersecurity, Network/Internet, Software
1 min read
0 0
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PayPal releases Seller Protection Program

PayPal launched the addition of Seller Protection. The updated coverage Seller Protection covers all eligible transactions, like physical objects, tickets, services or travel for free. It has three steps. First, if a buyer files a claim, or in case of a chargeback or a payment reversal, PayPal may place a temporary hold on the funds. Then, they will ask customers to provide information including proof of shipment or proof of delivery within the time frame communicated. It takes usually 7-10 days. Finally, the customer can access the money as soon as PayPal has ascertained that your transaction is eligible.

To protect transactions

According to PayPal’s terms, signature confirmation is required on purchases over $750 for intangible goods. PayPal aims to protect transactions via Seller Protection. In case of unauthorized transactions and items not received, Seller Protection can help the seller to get the full amount of the payment. It is important to note that the transaction must be eligible. In addition to this, PayPal’s Seller Protection program may also apply when a transaction is reversed because of a successful chargeback by a buyer or when a bank funded payment is reversed by the buyer’s bank.

See more Network/Internet News


Tags: PayPal
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Seda Nur Cinar

Seda Nur Cinar

Editor of Cloud7, Seda is a Linux and opensource enthusiast, security researcher and a web application developer.

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