Sid Zarapkar, Senior Manager, Resolutions & Protections, PayPal
Please see this post on our new PayPal Stories site.
PayPal is extending its Buyer Protection
The extended program, which started today, July 1, expands our Buyer Protection program to include fraud protection and dispute resolution for intangible goods or services. That means customers can receive credit or a refund after using PayPal to buy an intangible product or service that doesn’t get delivered or turns out to be significantly different than the item’s description if it meets our eligibility requirements.
PayPal can even cover the purchase cost in instances where there is no proof that the seller or buyer is at fault. We’re doing this to give customer’s confidence that when they shop online they are able to get protection for eligible purchases to get protected if there’s ever a problem. At the same time, the expanded program also benefits sellers, since it will bolster shopper confidence about making these purchases.
The decision to extend PayPal’s protective umbrella comes amid a sharp increase in the volume of digital goods purchased. The global market for digital goods has climbed past the $57 billion mark, according to a report by app analytics firm, App Annie & IHS.
As these new digital categories emerge and gain popularity, shoppers face a new calculus of considerations. Unlike ordering a computer or a pair of socks, a delivery truck doesn’t drop off a digital good or service bought online. Instead, buyers receive an authorization code or email notification.
Ultimately, it comes down to building a foundation of trust and security so customers will have faith in the buying process. And, it’s a global program, so shoppers can have the same confidence about placing an order using PayPal’s service whether you’re in the U.S. or in Brazil.