SAN JOSE, Calif.--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.
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.
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.
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