PayPal buyer protection to increase

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Carl-Olav Scheible of PayPal had some interesting comments regarding buyer protection, at Catalyst today.

When asked if PayPal in the UK would be increasing buyer protection cover upwards from the current £500 maximum he explained that the level of protection doesn’t influence buyers more buyers to use PayPal. Generally if a buyer is wary of spending online it doesn’t appear to make a difference if all or just part of their purchase is protected.

However the long term aim is to increase covereage, the first step will be to bring the £150 level up to match the £500 coverage, and from then on to increase the total coverage level which is expected to be between £2,000 and £10,000. We should see this in six – twelve months time.

One Response

  1. As most of us here are sellers, it really doesn’t matter even if PayPal increases Buyer Protection to £1,000,000 per item. All we sellers want and need is decent Seller Protection against chargebacks and INR complaints, where PayPal actually fights them (as merchant accounts do). Without ‘real’ protection that works, sellers will be let wide open to the numerous ‘fraud-by-PayPal’ scammers and low lifes. Our only recourse will be Police reports and private actions to recover our goods or payment.

    This will become even more important when eBay UK introduced mandatory use of PayPal for all eBay transactions. We have already added ‘ownership remains with us should payment be reversed’ clauses to all our listings, so baliffs or repo agents can enter the premises of fraudsters to recover ‘unpaid for’ items.

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