PayPal have announced improvements to both buyer and seller protection for users in the US. The cap on buyer protection is being removed for most transactions, so that buyers have unlimited protection against items not received or significantly not as described, whatever the purchase price. Scott Thompson, PayPal’s President said “we’re providing protection whether a transaction costs $50 or $50,000.”
For US sellers on eBay.com, seller protection is being widened to include transactions in the 190 countries in which PayPal operates. Sellers will be covered against claims, chargebacks and reversals due to an unauthorised payment or an item that was not received. The coverage cap for this will also be removed.
The changes are due to be implemented this autumn.
