PayPal is Done Protecting the Crowdfunded Garbage You Keep Backing

...

Backing items on crowdfunded sites is almost always a pretty bad idea. That’s not to say that there haven’t been some good ideas and products come through your favorite host – like Kickstarter or Indiegogo – over the years, but the true success stories are few and far between. In many situations, products are delivered late, arrive as something far inferior to what you expected, or never materialize at all, leaving you wondering if you’ll even get your money back. Because of the uncertainty and risk, PayPal has decided that it is no longer willing to protect your funds if they are used to back crowdfunded items. 

Through a policy update sent out to PayPal members over the weekend, changes highlighted in section 13.3, which is a list of items “ineligible” for Purchase Protection, PayPal has added in “Payments on crowdfunding platforms.” That means that if some crowdfunded yahoo tricks you into a fresh bottle of snake oil, PayPal doesn’t want to hear you come-a-crying for money back.

The new policy update also makes gambling and anything purchased from a government agency “ineligible.”

Categories
E-COMMERCE
0 Comment

Leave a Reply

Captcha image


RELATED BY

  • 5300c769af79e

    ProsperWorks Adds In-App Comms to its Google CRM Solution

    The new features are available through a custom integration with RingCentral, which provides enterprise cloud communications and collaboration solutions.The integration lets users make, receive and log calls without leaving the CRM solution.
  • 5300c769af79e

    Apple Earnings Sag on Lower iPhone Price Points

    International sales accounted for 63 percent of revenue during the quarter, and overall gross margins slipped to 38 percent, compared with 39.Thirty-three percent of iPhone SE buyers upgraded from older iPhones, including the iPhone 4s and prior models, the data show.
  • 5300c769af79e

    Leveraging IoT to Redefine Your Business

    Concentrating on near-term opportunities makes plenty of sense, given the complexities and uncertainties associated with today's IoT deployments.The uncertainty is compounded when an organization must assemble a connected product that will produce useful data and generate meaningful business results.
  • 5300c769af79e

    10 Best US Cities For Tech Jobs In 2016

    Lucrative tech jobs can be found in cities around the world, but some places have the ideal mix of job satisfaction and work-life balance that so many professionals value and seek.[Read: The 10 Best Tech Jobs for 2016] "In particular, work-life balance and affordability increasingly matter to tech job seekers when they are searching for the best city to land a new job," Berry explained.