eBay and PayPal Increase Protections for Buyers and Sellers to Shop With Confidence
Pay with PayPal on eBay and You’re Covered
PayPal
Michael Oldenburg, 408-967-5033
moldenburg@paypal.com
or
eBay
Usher Lieberman, 408-376-4809
ulieberman@ebay.com
Logo: http://www.ebay.com
eBay (Nasdaq:EBAY) and PayPal today announced improved protections for buyers and sellers on eBay.com, in time for this year’s holiday shopping season. For the first time, buyers who pay with PayPal will be protected on eligible transactions for 100 percent of an item’s purchase price, with no cap on coverage. In addition, all U.S. eBay sellers will receive improved seller protection for eligible transactions when they get paid with PayPal.
“We’re combining the power of eBay and PayPal to give all buyers and sellers more confidence and trust,” said Lorrie Norrington, eBay’s president, Marketplace Operations. “Buyers who pay with PayPal on eBay will be covered, with no limits, on most transactions. Any seller who gets paid with PayPal will be covered on most transactions, too, and can ship to 190 countries worldwide where PayPal is accepted.”
Norrington will introduce the protections at the company’s seventh eBay Live! community conference. Currently, 97 percent of eBay.com listings offer PayPal and over 90 percent of active eBay users in the United States have PayPal accounts. PayPal Buyer Protection covers eligible transactions on eBay.com for items that aren’t received and for items that are significantly not as described. Beginning this Fall, PayPal will remove the coverage limit, giving buyers more confidence when they pay for their eBay purchases with PayPal.
PayPal’s improved seller protection covers sellers against claims, chargebacks and reversals due to an unauthorized payment or an item that was not received. Under this improved protection, sellers can now ship to buyers in 190 markets worldwide where PayPal is accepted and still be eligible for protection. PayPal’s seller protection is provided without any additional cost, and beginning later this year, PayPal will remove the annual coverage cap.
PayPal’s increased buyer and seller protections will take effect this Fall.
“Today’s announcement makes it simple for our customers – we’re providing protection whether a transaction costs $50 or $50,000,” said Scott Thompson, president of PayPal. “As PayPal celebrates its 10th anniversary this year, we’re pleased to deliver these new protections and allow customers to shop on eBay with even more confidence.”
Additional Incentives and Rewards for Great eBay Sellers
Along with new payment protections, eBay also introduced at eBay Live! incentives and rewards for its best PowerSellers.
For PowerSellers, eBay announced a discount program rewarding sellers who consistently provide the very best customer experiences, as measured by eBay’s Detailed Seller Rating (DSR). DSRs are a scorecard that buyers use to rate sellers on a 0-5 scale (five being the highest) across four key success metrics. Sellers with DSRs of at least 4.9 across all four categories will receive 20 percent off their Final Value Fees, which are the commission eBay charges sellers for sold items. Sixteen percent of PowerSellers immediately qualify for the discount, which will appear on July invoices.
In addition, deeper UPS shipping discounts were announced for PowerSellers, on top of savings introduced last year. PowerSellers will now receive an extra 23 percent off already reduced Daily rates for ground shipping by UPS.
eBay Live! continues this week through Saturday, June 21. More information about these announcements and other happenings at eBay Live! can be found at http://www.ebay.com/eBayLive/.
About eBay
Founded in 1995, eBay Inc. (Nasdaq:EBAY) connects hundreds of millions of people around the world every day, empowering them to explore new opportunities and innovate together. eBay Inc. does this by providing the Internet platforms of choice for global commerce, payments and communications. Since its inception, eBay Inc. has expanded to include some of the strongest brands in the world, including eBay, PayPal, Skype, StubHub, Shopping.com, and others. eBay Inc. is headquartered in San Jose, California.
About PayPal
PayPal is the safer, easier way to pay and get paid online. The service allows anyone to pay without sharing financial information and gives consumers the flexibility to pay in any way they prefer, including through credit cards, bank accounts or account balances. With more than 60 million active accounts in 190 markets and 17 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay Inc. company (Nasdaq: EBAY). More information about the company can be found at https://www.paypal.com.
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