PayPal is changing their policy. Will that affect those of us that use PayPal with Second Life in the USA? No one is sure.

Lost Girl

The email that PayPal is sending out reads:

Dear Nal:

We are making some changes to the PayPal User Agreement, PayPal Privacy Policy, PayPal Here Agreement and the PayPal Website Payments Pro and Virtual Terminal Agreement that will go into effect on March 29, 2017. If you’re interested in more detail, please visit our Policy Updates Page. Updates include:

• We’re updating the list of items that will not be eligible for PayPal Purchase Protection or Seller Protection.
• We’re revising the set off rights by removing the 180 day past due requirement.
• We’re updating our list of restricted activities.
• We’re notifying you of the movement and processing of information to cloud-based service providers.
• We’ve updated the “Payment Method Used for My Transaction” section to describe changes that give you more control and choice in how you want to pay.
• We’re changing some of the fees we charge.

These changes, along with the others detailed on our Policy Updates Page , will become effective March 29, 2017 for all U.S. users. We encourage you to review the Policy Update and familiarize yourself with the changes that are being made. If you do not agree to these amendments, you may close your account before March 29, 2017.

Thank you for being a PayPal customer.

Sincerely,
PayPal

The policy page (link above) says (paraphrasing) there will be more ways to pay, deliver money to PayPal…

They are upping the cost of currency exchanges. They are going from the rate set by PayPal’s bank plus 2.5% to plus 3%.

They are reducing PayPal Purchase Protection. Investments, donations, payments to friends & family, and PayPal Payouts and Mass Pay and guest checkout transactions will no longer have Purchase Protection.

The eligibility for a PayPal account is stricter.

They are adding what they call a ‘non-discouragement clause for sellers’, which I take as mostly about advertising the PayPal method of payment. Meaning ‘Do Not Discurage the use of PayPal.’

The Transaction Fee changes from 3.7% to 4.2%.

Non-profits will have a transaction rate of 3.7%.

Outside the USA micropayment transactions will go from 6% to 6.5%.

There will be US$20 chargeback fee when sellers get a chargeback.

Seller Protection will only apply when PayPal’s request for documentation is handled in a timely manner.

When a seller does get a chargeback and Purchase Protection applies PayPal will allow a negative balance in the account.

PayPal is removing the 180 day past due requirement. They will now debit your account when… ever?

They have updated their list of what they consider hacking…

They have given their selves more rights to terminate access to an account.

They have reduced their liability on systems operated on PayPal’s behalf.

…and a few other things that I think are unlikely to affect SL users.