PayPal announced today the expansion of Seller Protection1 in Poland. The program will protect sellers when they receive an unverified payment, for example through a compromised account or when the buyer claims they did not receive the item.
In such cases, PayPal Seller Protection will cover the full cost of the payment for completed transactions.
Until now, PayPal Seller Protection in Poland covered only physical goods. From now on, the program will also cover payments for services (such as design, education, or photography), tickets (for concerts, performances, sports events, etc.), and travel (trips, flights, hotel bookings, etc.).
"I am very pleased about the expansion of our services. The decision to expand Seller Protection was made by PayPal to assure sellers that they can grow their e-business and sell their products on a larger scale, without concerns about receiving payment," says Matt Komorowski, Managing Director of PayPal for Northern and Central Europe. "The awareness that you are protected if something goes wrong should be a mandatory element of online buying and selling for both parties to a transaction. These improvements were introduced based on feedback from our users, who want to feel safe when making online transactions. I am very pleased and confident that the expanded program — alongside services such as Buyer Protection and Return Shipping Refund — will increase sellers' trust and their security in the e-commerce space."
PayPal Seller Protection helps Polish entrepreneurs sell products and services more safely not only in Poland, but also in more than 200 other markets where PayPal operates. According to an Accenture report, cross-border online commerce is becoming the main driver of B2C trade growth, with a CAGR of 29.3% in 2014-20202. One of the most popular categories in this industry is travel (tickets, accommodation, trips, etc.), which accounts for 26% of all products and services sold. PayPal hopes that the expanded Seller Protection will help Polish companies reach a new level of business development on an international scale.
About PayPal:
Driven by a fundamental belief that access to financial services creates new opportunities, PayPal (Nasdaq: PYPL) is committed to democratizing financial services and enabling people and businesses to join the global economy. Our open digital payments platform gives nearly 203 million active PayPal users confidence in new and effective ways to transact, whether online, via mobile, through an app, or in person. By combining technological innovation and strategic partnerships, PayPal is developing better ways to manage and move money. It offers choice and flexibility when sending payments, paying, and receiving payment. The PayPal platform, available in more than 200 markets around the world, including Braintree, Venmo, and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies, and hold balances in their PayPal accounts in 25 currencies. More information about PayPal: https://www.paypal.com/about. About PYPL: https://investor.paypal-corp.com.
