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may
18

Paypal Ends Payment Protection In Several Countries

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Posted on Wednesday, May 18, 2016 by "T".

Paypal, an American-owned worldwide online payments system since 1998, has declared that it will stop offering customers payment protection on transactions associated with online gambling. The large-scale currency company announced the move quietly last week through some changes made in the terms and conditions of its payment protection policy.

According to the amended section appearing on the Paypal User Agreement, from this day forward, Paypal will no longer provide customers a financial safety net for deposits meant for "gambling, gaming and/or nay other activity with an entry fee and a prize".

Furthermore, the giant payments processor will also stop offering purchase protection on payments made to crowdfunding websites as well as "anything purchased from or an amount paid to a government agency."

Paypal stated that the countries mainly affected by this new amendment include Brazil, Canada, Japan and the United States. The changes will be implemented on June 25; however, some other news sources are reporting that these rules will soon affect all countries.

DFS and Online Poker in the US Affected
Paypal was once the largest processor of online gambling transactions all over the world, but it willingly withdrew itself from all markets in 2003 after merging with eBay and also due to that time's legally gray nature of the gambling sector in most countries.

In the year 2010, Paypal began approving gambling transactions again, but this time it was reserved only for licensed operators in jurisdictions where online gambling was fully regulated and deemed legal. In 2015, thanks to a deal with WSOP.com, it quietly started to offer its services to the regulated US online poker markets of New Jersey and Nevada, and it also processes payment processing transactions for daily fantasy sports (DFS) in the US.

To be precisely clear, the cessation of payment protection on deposits for online poker is unlikely to have a significant effect on the consumer market. In other words, the regulated industry of online gambling with which Paypal currently engages itself with is highly unlikely to run off with anyone's money anytime soon.
This new policy might expose gaming operators to a somewhat slightly higher risk of fraud, but in truth, e-wallets like Paypal are considered to be one of the payment methods that have a far lower risk ratio by most in the gambling industry than credit cards, for instance, which are subject to unwanted chargebacks and are more vulnerable to unpleasant incidents like identity fraud.

Source: http://calvinayre.com/2016/05/11/business/paypal-ceases-payment-protection-for-online-gambling-in-us-canada-brazil/

 


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12 comments for "Paypal Ends Payment Protection In Several Countries "

 pochui5/18/2016 12:54:44 PM GMT
really? i thought that there are no rooms apart from some random 26 players at peak time ultra mega famous online poker booth actually using paypal to process payments. apparently i was completely wrong and now the news that paypal will stop payment protection in some countries like north korea and botswana poses a huge risk to the whole online gambling industry.
 shokaku5/18/2016 2:08:08 PM GMT
Papypal may be not be that widely available as Neteller or Skrill, but there are some rooms that support it as a payment processor. Eight-eight-eight is the biggest one of the poker rooms in question.
 holdemaras5/18/2016 2:58:17 PM GMT
Thats actually sad. It was used so widely, I was using it quite often too.. Always for a poker deposit.
 T3ddyKGB5/18/2016 4:13:25 PM GMT
thats really sad news. i always use paypal for deposit/withdraw on pokerstars. actually i only use paypal. its much better than skrill since you can go online shopping and pay almost everything via paypal.

 pinotte5/18/2016 4:54:27 PM GMT
After Skrill and Neteller now it is Patpall that will not accept Canadian. To my knowledge there is no law in our country that is banning the poker or casino sites.

Now maybe one day they won't be banned but the government will want a share of their profit and will ask them to get a license to do business here.

I don't understand their reason to ban us. Aww crap! Aww crap!
 Tony_MON7ANA5/18/2016 9:05:08 PM GMT
PayPal..., I am still getting phishing emails!
I guess I am gonna have to review the PayPal policy update and familiarize myself with the changes that are being made to its user agreement.
It seems that while the payment is not eligible for PayPal Purchase Protection, you can still file a dispute in order to resolve an issue directly with the seller although PayPal will generally not find in your favor if you escalate an issue for an item which is not eligible for PayPal Purchase Protection. Hmm...
 Calmplay5/19/2016 5:26:15 AM GMT
I use this payment method only to buy stuffs online otherwise I use Skrill or Neteller for all my gambling transactions... and indeed Visa for my adult website membership transactions Big Smile
 doubletop7775/19/2016 9:15:54 AM GMT
I am quite surprised by this and i hope nobody loses any money because of this. I would have thought that they would be making tonnes of money through this and i am surprised they stopped it
 dule-vu5/19/2016 11:47:08 AM GMT
I dont use paypal for betting,poker,casino and only used few times paypal,if I there was no other ways to get money which I got from people or some sites!much better for me is skrill or direct on visa electron!
 Jgirlzzz5/21/2016 8:04:04 AM GMT
I am a frequent user of paying with PayPal. Spotify, Netflix, online shopping and casinos are all accepted payments that I use my account on. I agree with others that comments and discus this; really hope no one loses any money because of it...
 DaCapo715/25/2016 3:07:42 PM GMT
Normally i use sometimes PayPal for online shopping, but this news are really bad. And i thought that a lot of pokerrooms and Networks are offering PayPal as payment method in the near future like stars.
 dule-vu5/25/2016 9:01:06 PM GMT
well,only paypal can lose it they continue with this blocking countries!people will turn to other payments,other sites or just with cards!but everybody should know what are consequences for business,when they do things like this!

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