PayPal has announced nine new rules which will affect millions of its customers.
The online payment system has confirmed that the new changes will come into effect next year, on Janaury 28, 2022.
One of the new rules includes an amendment for sellers, as proof of shipment and proof of delivery must now include an online verifiable tracking number, the Liverpool Echo reports.
PayPal is also introducing 14 additional currencies for withdrawals from an account.
They wrote to their users: "We're making some changes to our legal agreements that will apply to you.
"There is no action needed from you today, but if you would like to learn more, you can find details about these changes, when they apply and what you can do if you want to decline the changes on our Policy Updates page.
"You can also view these changes by visiting paypal.com/uk, clicking 'Legal' at the bottom of the page and then selecting 'Policy Updates'."
Effective January 28, 2022 PayPal will:
- Relocating PayPal’s Buyer Protection program and Seller Protection program terms to separate web pages. These program terms were accepted at the time you agreed to the user agreement and remain part of the user agreement. The relocation is intended to make the terms easier to locate and navigate.
- Revising PayPal’s Seller Protection program to clarify that proof of shipment and proof of delivery also must include an online verifiable tracking number.
- Clarifying that abuses of our online dispute resolution process, PayPal's Buyer Protection program, and/or PayPal’s Seller Protection program are restricted activities as defined under the user agreement.
- Clarifying that you will not be charged a Standard Dispute Fee for disputes that have met all requirements of PayPal’s Seller Protection program.
- Clarifying that a Minimum Reserve is also known as an Upfront reserve.
- Introducing 14 additional currencies for withdrawals from a PayPal account and clarifying the minimum and maximum fees that may apply where withdrawal transactions are made in these currencies.
- Changing the additional percentage-based fees for international donations as well as simplifying our market/region country classifications for these fees.
- Clarifying that donations sent or received by a merchant are a type of commercial transaction.
- Clarifying the definition of the European Economic Area (EEA) by introducing a list of markets/regions which form part of the EEA.
