PayPal Launches Improved Seller Protection in Southeast Asia; Secures and Ignites New Growth Opportunities for Millions of Merchants
SINGAPORE – PayPal, the global leader in payments, announced today that it will be making a significant expansion to its Seller Protection policy in six markets in Asia –Indonesia, Malaysia, Singapore, the Philippines, Thailand and Vietnam. The expanded protection will now cover eligible intangible goods including e-booking of travel tickets, tickets for an event, cab rides, services and more, which are based on unauthorized transactions. With its industry leading risk models and technology, PayPal is the only payments company offering such protection to both buyers and sellers in Southeast Asia in a frictionless and secure manners.
Under this program, PayPal will provide expanded coverage in the event a customer files an unauthorized chargeback, or an unauthorized claim against a seller for services or eligible intangible goods. Sellers will have an opportunity to respond to the claim within a reasonable period through proof of fulfilling the order. This will provide Southeast Asian merchants with greater confidence when trading domestically and overseas, whether they are selling physical or intangible goods.
According to Frost and Sullivan research, the total revenues from B2C e-commerce in these six largest Southeast Asian countries will grow at a CAGR of 37.6 percent to reach US$34.5bn by 2018. Within that, intangibles form a significant portion of the e-commerce base in Southeast Asia. “We are committed to safeguarding the interests of merchants who partner with us when they sell online” said Rahul Shinghal, General Manager, PayPal Southeast Asia. “PayPal is aiding the growth of our merchants’ business with Seller Protection. With this launch, our merchant partners will be able to expand their cross border business even more aggressively without worrying about fraud.”
Lisa Yeo, Senior Vice President, Group Operations, Asia Travel, “We are delighted that PayPal Seller Protection is now covering intangibles, including the travel category. This enhancement provides greater assurance that we have a partner in PayPal that protects us against fraudulent claims and chargebacks. With less to worry about, we can focus more on delighting our customers. This gives us great confidence in accepting PayPal for bookings.”
For eligibility requirements and full terms and conditions, please read the PayPal User Agreement. More information on this program can be found in the respective country websites:
· Indonesia: www.paypal.com/id/seller-protection
· Malaysia: www.paypal.com/my/seller-protection
· The Philippines: www.paypal.com/ph/seller-protection
· Singapore: www.paypal.com/sg/seller-protection
· Thailand: www.paypal.com/th/seller-protection
· Vietnam: www.paypal.com/vn/seller-protection