PayPal Asia boosts seller protection
Sep 14, 2015
PayPal Asia says it has enhanced its Seller Protection policy in six markets in Asia: Indonesia, Malaysia, Singapore, the Philippines, Thailand and Vietnam.
The expanded protection will now cover eligible intangible goods including e-booking of travel tickets, tickets for an event, cab rides, services and more, which are based on unauthorised transactions.
“With our industry leading risk models and technology, PayPal is the only payments company offering such protection to both buyers and sellers in Southeast Asia in a frictionless and secure manner,” the company said in a statement.
PayPal will now provide expanded coverage in the event a customer files an unauthorised chargeback, or an unauthorised claim against a seller for services or eligible intangible goods
Sellers will have an opportunity to respond to the claim within a reasonable period through proof of fulfilling the order. This will provide Southeast Asian merchants with greater confidence when trading domestically and overseas, whether they are selling physical or intangible goods.
According to Frost and Sullivan research, the total revenues from B2C eCommerce in these six largest Southeast Asian countries will grow at a CAGR of 37.6 per cent to reach US$34.5 billion by 2018.
“We are committed to safeguarding the interests of merchants who partner with us when they sell online” said Rahul Shinghal, GM PayPal Southeast Asia.
“PayPal is aiding the growth of our merchants’ business with Seller Protection. With this launch, our merchant partners will be able to expand their cross border business even more aggressively without worrying about fraud.”