PayPal New Updated Policies Taking Effect
eBay’s online payment service PayPal updated some of its policies taking effect this month. PayPal will no longer be offering its Money Back Guarantee program as of September 14, 2006. Under the program, purchasers of the guarantee were allowed to resell merchandise to PayPal if they were unhappy with the item. The guarantee applied to “selected physical goods transactions for less than $1,000.”
PayPal is also changing its PayPal Buyer Protection, the PayPal Plus Credit Card and Buyer Credit Policy to remove the limit on the number of payouts PayPal awards to a buyer per year under the terms of the protection programs (effective September 14, 2006). The PayPal Buyer Protection program is designed to help buyers recover funds from eBay sellers who do not deliver the promised goods, or who deliver goods that are “significantly not as described” in the listing.
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