PayPal Refund and Buyer Protection Problem
The PayPal system is great! In international business where the buyer and seller are not facing each other across a counter, cash payments are not an option This leaves us with bank wire transfers and credit card payments This is where PayPal comes in It allows people from all around the world to buy and sell off the internet and use a protected system that is safe and reliable for transferring money in exchange for goods All you need is to create an account with PayPal, and give the some of your private information for security check, etc and you can do business over the internet with anyone around the world . .It is almost impossible to have a full-proof payment processing system Likewise Paypal, it has its fair share of policy limitations and consumer complaints Two main Paypal problems are: .# PayPal Refund Policy . .# PayPal Buyer Protection Policy . .PayPal Refund Problem .PayPal has very strict Refund Policy While you can dispute purchases done via PayPal, there are some technical refund issues to be considered by buyers: .# Complaint process may be time-consuming . .# Sellers can only issue refund within 60 days from the date of purchase . .# Buyers can only open dispute and request refund within 45 days from the date of purchase . .# The refund amount issued will be limited to what is in the seller’s PayPal account balance, if any . .# No protection for “Significantly Not As Described” should the seller refuse the claim . .PayPal Buyer Protection Problem .PayPal’s protection program protects sellers against unjustified chargebacks and reversals Buyers are also protected from fraudulent and scam transactions But PayPal Protection Program is certainly not foolproof: .# Does not cover non-physical product . .# Many loopholes to reject your complaint . .# No protection for services and intangible goods . .# Only good if both parties are from: US, UK or Canadian . .# Only first $5000 in contested sales are covered per year . .# No protection for items bought on other market place besides Ebay . .# Does not cover those that uses PayPal and credit card together for a particular purchase . .# No protection for “Significantly Not As Described Claim”.
Source: www.rsstnx.com