Message #98 From:
NewsBot Date: January 10, 2007 09:00:00 AM
EBAY News PayPal Doubles Buyer Protection on eBay
SAN JOSE, Calif.--(BUSINESS WIRE)--eBay (Nasdaq: EBAY) and PayPal today announced an expansion of PayPal
Buyer Protection, giving buyers up to $2,000 of coverage for qualified
transactions on eBay.com. This increase doubles the coverage provided by
the existing protection program.
PayPal Buyer Protection is a free program that covers qualified
transactions on eBay up to $2,000 for non-delivery of items, and for the
delivery of items that are significantly not as described. eBay sellers
in the United States and Canada qualify to offer $2,000 of PayPal Buyer
Protection by maintaining a 98 percent positive feedback rating and
having at least 50 feedback points.
For all other qualified transactions on eBay.com that are not covered by
PayPal Buyer Protection, PayPal will provide up to $200 of coverage with
no processing fee, no minimum purchase price and no seller requirements,
as long as the buyer pays for the item with PayPal. This replaces the
eBay Standard Purchase Protection Program in the U.S. and Canada, which
previously covered all eBay transactions for up to $200 minus a $25
processing fee. eBay will no longer offer purchase protection for
non-PayPal transactions.
Effective January 17, 2007, PayPal will offer purchase protection on
more than 95 percent of items listed on eBay.com.
"PayPal is the safest way to pay on eBay, and we’re
excited to offer even more protection for eBay buyers,”
said Rob Chesnut, senior vice president of Trust and Safety for eBay
Inc. “This is a huge step in building even
more trust in shopping on eBay, because it makes the message very simple –
Pay with PayPal and you’re covered.”
Qualified items will clearly indicate the amount of coverage available
on the item page. Buyers should look for the green box on item listings
to see how they are protected.
About eBay
Founded in 1995, eBay created a powerful platform for the sale of goods
and services by a passionate community of individuals and businesses. On
any given day, there are millions of items across thousands of
categories for sale on eBay. eBay enables trade on a local, national and
international basis with customized sites in markets around the world.
Through an array of services, such as its payment solution provider
PayPal, eBay is enabling global e-commerce for an ever-growing online
community.
About PayPal
Founded in 1998, PayPal, an eBay company, enables any individual or
business with an email address to send and receive payments online
securely and easily using a bank account, credit card or stored balance.
Because PayPal allows customers to shop online without sharing their
financial information with merchants, privacy is built into the service.
PayPal has nearly 123 million accounts and is available to users in 103
markets around the world. More information about the company can be
found at https://www.paypal.com.
