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Paypal Payment Protection to End for Crowd-Funding

Suzie Ford Updated: Posted:
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Paypal has announced that users participating in crowd funding initiatives will no longer qualify for payment protection. Included crowd-funding services falling under the new rules are Indigogo and KickStarter. Paypal indicated that these initiatives embody too many "risks and uncertainties".

Beginning June 25th, those supporting crowd-funded projects will no longer be able to submit a claim to recover cash.

SECTION 13.3 Ineligible Items

We’re updating the list of items that are not eligible for Purchase Protection.  The new items that will not be eligible are: 

  • Payments on crowdfunding platforms
  • Anything purchased from or an amount paid to a government agency
  • Gambling, gaming and/or any other activity with an entry fee and a prize

We’re also clarifying the exclusion for items equivalent to cash to now include stored value items such as gift cards and pre-paid cards.

You can read the full notice of the change to the User Agreement on the PayPal site.

Via GamesIndustry.biz


SBFord

Suzie Ford

Suzie is the former Associate Editor and News Manager at MMORPG.com. Follow her on Twitter @MMORPGMom