Monday, June 14, 2010

PayPal Changing Terms and Fees

PayPal has announced the following changes in its charges and terms:

American Express Card Acceptance – On July 13, PayPal and American Express will enter into a new card processing arrangement that requires merchants to establish a direct contractual relationship with American Express. You will need to accept a new agreement with AmEx if you want to continue to accept American Express cards directly through Website Payments Pro and Virtual Terminal. Of course, PayPal will continue to service American Express transactions.  As part of this new agreement, American Express pricing will change to be on par with their typical industry rates. This only applies to taking American Express credit cards directly. There’s no change if a consumer chooses to pay with PayPal, no matter how the account is funded.

Refund Prices – Starting August 10, PayPal will retain the transaction fee (typically $.30) when a seller issues a refund (U.S. and Canada merchants).

Chargeback Prices – Starting August 24, they’ll be increasing chargeback costs from $10 to the typical industry rate of $20 (U.S. merchants only, eBay merchants enrolled in the PayPal Preferred program are exempt).

No comments:

Web Analytics