eBay, PayPal Increase Protections For Buyers And Sellers

"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.

"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."