PayPal Updated User Agreement April 19, 2018

[Modee]

Policy Updates

Includes:

• We’re no longer going to offer the Pay After Delivery product so we are removing terms related to that product from the user agreement.
• We’re clarifying that when purchasing or sending money, we may require a backup payment method for your transaction(s) to be used if the selected payment method is declined, expired or otherwise unavailable.
• We’re updating the list of items not eligible for our Purchase Protection Program, so that payments sent using PayPal to any bill payment service are not eligible for the program.
• We’re updating the additional requirements for coverage of Unauthorized Transactions for sellers under our Seller Protection program to require that the payment must have been made in connection with a transaction where the buyer logged into their PayPal account to complete the transaction in order for sellers to be covered under the program.
• We’re including references to Venmo in the Presentation of PayPal clause for sellers as well as clarifying your obligations to present PayPal and Venmo on par with other payment methods.
• We’re adding terms that apply to marketplace sellers. If you sell on a marketplace and accept payment through your PayPal account, a hold may be placed on a payment sent to you at the instruction of the marketplace.
• For business accounts, we are changing the fee charged for our faster withdrawal option to an eligible debit card linked to your PayPal account to 1% of the transferred amount.
• We’re removing the variable rate pricing for sending money to friends and family members who have PayPal accounts in a country other than the United States when you send money using PayPal balance or your bank account and introducing a new flat fee of $2.99 or $4.99 per transaction depending on the recipient’s country. However, when you send money using your credit card, debit card, or PayPal credit you will be charged the new flat fee per transaction depending on the recipient’s country + 2.9% of the transaction amount + a fixed fee based on the currency.
• We’re changing the balance functionality for your PayPal account depending on whether we have been able to verify identifying information that you provide to us.
  • If we have not verified your identifying information, a balance in your PayPal account can generally only be held in your PayPal account and transferred to a linked bank account or debit card.
  • If we have verified your identifying information, a balance in your PayPal account can be held in your PayPal account, transferred to a linked bank account or debit card, used to make purchases or send money to others.

Restrictions and limitations on such accounts may be lifted upon validation of the user’s identity by PayPal.

• We’re clarifying how we calculate transaction exchange rates where we perform a currency conversion.
• Clarifying that Sellers have certain obligations under applicable law around how they collect, store and protect user data of customers in Europe.
• We’re updating the user agreement to enable you to seek public injunctive relief in court instead of arbitration, if a court decides that you have a right to pursue that type of relief and it is not available in arbitration under the terms of the user agreement’s arbitration provision.

These two are of particular note to us:

• We’re updating the list of items not eligible for our Purchase Protection Program, so that payments sent using PayPal to any bill payment service are not eligible for the program.
• We’re updating the additional requirements for coverage of Unauthorized Transactions for sellers under our Seller Protection program to require that the payment must have been made in connection with a transaction where the buyer logged into their PayPal account to complete the transaction in order for sellers to be covered under the program.