PayPal, the global leader in online payment, today announced that it will be launching an expanded Seller Protection policy in Asia Pacific (APAC) on October 11th, 2013.
PayPal's Seller Protection will help to protect merchants from fraudulent transactions and cases where items are not received by buyers to enable merchants to seek out growth opportunities in new markets. Seller Protection will be available to PayPal merchants in Australia, New Zealand, mainland China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam.
As of October 11th, 2013 PayPal will provide Seller Protection to eligible merchants that use PayPal to process transactions for tangible items(1). With this launch, PayPal is reducing the liability for fraud from the millions of merchants fuelling the Asia Pacific economy. Businesses currently selling on the web are forced to dedicate a huge amount of time and money to tackling fraudulent transactions, while many offline companies lack the confidence to sell online due to fear of fraud and sheer size of this issue. PayPal understands the pain points that merchants face, particularly when selling beyond their own borders, and partners with merchants to help them adopt best practices at every stage in the sales cycle including customer service, shipping and checkout. Today, PayPal is adding another layer of security to help merchants reduce risk and increase sales.
Rohan Mahadevan, Vice President, Asia Pacific, PayPal said, "At PayPal, we're committed to being a true partner to our merchants. We work together with them to overcome any obstacle they might face when doing business online from logistics, to customer service, to checkout integration and cash-flow. Seller Protection is yet another way in which we're working closely with our merchants, to help them accelerate their sales while managing their risk. This will empower online businesses to capitalize on the multi-billion-dollar cross-border trade opportunity in Asia's fast growing economy."
The Seller Protection program safeguards merchants against risks to their business which cost significant time and resources to address, including fraudulent transactions and items not received by the buyer. Online businesses can benefit from Seller Protection for no extra cost and with no need to subscribe provided they meet the eligibility criteria.
Cornel Ung, Chief Executive Officer at Digital World International Ltd said, "We've been selling cameras on eBay and through our own websites for over 4 years, and have always appreciated the support PayPal provides our business. For a long time we've been eyeing up opportunities for expansion to different countries, but it always seemed so risky, due to the high fraud rates of certain countries. Buyers have always been protected with PayPal Buyer Protection, and with the expansion of Seller Protection, we can now work with PayPal to reduce risk and focus on selling with confidence into new markets which will really support our business growth."
With its industry leading risk models, technology and business model, PayPal is one of the only companies to offer such comprehensive protection to both buyers and sellers in Asia Pacific and across the world. PayPal Seller Protection makes it as easy as possible for merchants to mitigate potential risks and requires no additional mandatory codes which interrupt a sale during checkout.