Interesting upcoming policy updates in Paypal

Payment methods
1

I’ve been having a look at the latest upcoming update to Paypal policy, published in August 16th and apparently to be applied starting from November 19th. In point 13.3, they add a list of payment types which are no longer eligible for reimbursement under PayPal Buyer Protection. One of them is «Personal Transactions», which are defined as sending and receiving money to/from friends and family (sic) without an underlying commercial transaction. Maybe this mechanism would then make sense for Bitsquare, although the trade may be considered a commercial transaction outside of friends and family, so maybe it would be abusing the platform.

Also, point 11.10 also makes ineligible for seller protection «Items equivalent to cash» and «Payments made in respect of financial products». I don’t know if that would apply to trades.

To see policy changes, enter your PayPal account, click on legal agreements at the very bottom of the page, and click on policy updates at the end.

2

I doubt that would stop Paypal clawbacks for the common reason of “my account was hacked, I didn’t make this transaction.”

3

Thanks for the info. If it turns out that they really don’t allow chargebacks, we can add it. But better wait for some time to see how it plays out.

4

I hope that they will make mandatory the 2FA authentication … even if I know that even the “legit” user can try to scam.