The latest paypal email sent earlier today, confirmed. Let say you sell on eBay or any online store that accept paypal and when the buyer decides to return the item as “not as described” (buyer can say this even if it’s not true) Paypal will refund the buyer full amount paid, but you will not get refund for the fees (3% seller fees).
Refer to this thread for more detail. https://slickdeals.net/f/13394314-psa-paypal-will-not-return-the-original-fees-for-refunds-starting-october-1st
Pay Upcoming User Agreement Refund Policy Change
On Thursday, September 19, 2019, 07:56:32 PM EDT, PayPal [email protected] wrote:
– You can view the changes on our website View Online
Earlier this year, we notified you that we were updating our User Agreement to change our refund policy. We want to let you know that the policy change is going into effect beginning on October 11, 2019.
In line with industry practice and according to our updated policy, we will not charge a fee to process refunds, but the fees from the original transaction will not be returned. This policy will not apply to duplicate transactions, voids and most disputed transactions. You can review the PayPal User Agreement for more information on our return policies.
We only adjust our policies when we are confident the changes are fair and aligned with the value that our services provide to your business.
PayPal brings you more than just payment processing – your business has access to our platform’s full suite of tools, products and support built to scale with you, such as customized invoicing to help you get paid sooner, access to business loans, world class fraud monitoring, seller protection for eligible transactions, and business services designed to simplify your day-to-day operations.
PayPal invests in bringing you buyers – with over 268 million active account holders worldwide, PayPal works hard for your business to make sure we continue to bring your buyers the shopping experiences they have grown to associate with our brand. PayPal is the most-used digital wallet** and PayPal shoppers complete their checkout 88% of the time on average, helping you close more sales.+
If you have questions about any of these changes or your account, please don’t hesitate to get in touch with us.
Thank you for being a PayPal customer. We appreciate your business and look forward to continuing to help you grow and succeed in the future.
The team at PayPal
** Source: Market Force Information, Online Survey of 6,518 US Banking Customers, US Adults, August 2017.
Source: comScore online panel, Q4 2017. Analyzed shopping behavior of 1 million US consumers on 20 large merchant sites. Checkout conversion is measured from the point where the consumer selects a payment type to the completion of purchase.
Please do not reply to this email. We are unable to respond to inquiries sent to this address. For immediate answers to your questions, visit our Help Center by clicking “Help” located on any PayPal page or email.
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