Tuesday, June 30, 2009

BWI: PayPal Launches New Seller Protection for its eBay Sellers

Press release from Business Wire India
Source: PayPal
Tuesday, June 30, 2009 02:00 PM IST (08:30 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Information technology; Technology
PayPal Launches New Seller Protection for its eBay Sellers

Mumbai, Maharashtra, India, Tuesday, June 30, 2009 -- (Business Wire India) -- PayPal, an eBay company, today announced that it is launching new protection for its eBay sellers. The new coverage will provide protection against unauthorised payments and claims for items not received for eligible items sold on eBay websites.

Additionally, as part of PayPal's new seller protection coverage, sellers will benefit from a new feature which alerts them of potential, high-risk transactions within moments of receiving a payment so that they don't ship their items until the payment clears - helping them to reduce their losses.

"PayPal's number one priority has always been providing the safest online payment service for buyers and sellers. We are excited to offer our sellers industry-leading protection which will help to them to better manage their risks and reduce their costs. For our eBay sellers in India, we also believe that seller protection will provide them greater confidence to grow their businesses safely in more markets." said Mario Shiliashki, General Manager of PayPal Southeast Asia and India.

PayPal currently has over 70 million active accounts globally. The addition of seller protection helps sellers by reducing their burdens of online risk and for making selling on eBay with PayPal even safer and easier. Seller protection is free and has no annual coverage limit. To qualify, sellers will need to submit the appropriate shipping documentation for eligible items when a transaction issue arises. Additionally, it is available for payments from 190 PayPal accepted markets for eligible eBay items.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send and receive payments without sharing financial information, with the flexibility to pay or get paid using a variety of secure payment options, including account balances, bank accounts (in approved countries), credit cards or promotional financing. With more than 70 million active accounts in 190 markets and 19 currencies around the world, PayPal enables global ecommerce.

In the U.S., PayPal is the most preferred payment service on the Web after Visa. In the UK and Australia, PayPal is the most preferred payment service on the Web. (Source: PayPal Brand Tracker Q4 08 and Nielsen Consumer Report 2H 2008)

PayPal's Total Payment Volume, the total value of transactions in 2008 represented nearly 9 percent of global e-commerce. (based on Forrester estimates of US e-commerce with the addition of eBay Inc. internal metrics totaling $256B)

PayPal is headquartered in San Jose, California. Its international headquarters (PayPal Private Limited) are located in Singapore. PayPal is an eBay company. More information about the company can be found at www.paypal.com.

Consumer advisory - PayPal Pte. Ltd., the holder of PayPal's stored value facility, does not require the approval of the Monetary Authority of Singapore. Users are advised to read the terms and conditions available at www.paypal.com carefully before use.

Preeti Gupta, Account Director, Vox Public Relations, +91 9871401722, preetig@voxpr.co.in


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