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TheDomains.com

Paypal Updates TOS: No Refunds For Gift Cards, Crowdfunding & Gaming Sites Like Fan Duel/Draft Kings

May 8, 2016 by Michael Berkens

Paypal chose Mother’s Day to update it’s User Agreement which will go into effect on June 25, 2016.

The new terms exclude certain items from its Seller protection including gift cards, and pre-paid cards including items “equivalent to cash”.

PayPal also added a list of items that are not eligible for Purchase Protection including payments crowdfunding platforms, anything purchased from or an amount paid to a government agency and for “gambling, gaming and/or any other activity with an entry fee and a prize”.

Payments to sites like Draft Kings and Fan Duel would seem to be included in this new exclusion  for payments eligible for Purchase Protection.

PayPal is also now requiring all buyers to wait at least 7 days to escalate a dispute to a claim regardless of the transaction amount.

It would seem like “charitable” sites like Gofundme.com might be subject to the new rules as well.

Although there is plenty of time before these changes go into effect I’m not in favor of customers being made away of these changes on a Sunday much less on mother’s day.

You can see all the changes here and Happy Mother’s Day.

Filed Under: news

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.

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Comments

  1. Andrew says

    May 8, 2016 at 5:57 pm

    They’ve been sending notices about this out all week on a rolling basis. I received them for a couple of my accounts over the week and then another this weekend. So I don’t think they were trying to bury it.

  2. Amazing Domains says

    May 9, 2016 at 9:16 am

    too many scam projects on crowdfunding platforms


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