PayPal has posted some important policy changes set to take effect soon, including one that will stop refunding sellers for the commission part of the fee they pay on sales when buyers cancel.
Sellers on forums like Reddit have been reacting for a few days to the change, which will take effect May 7 and will rescind PayPal’s policy of refunding to sellers the percentage part of the fee it charges when sellers make a sale. Up to now, the company’s policy has been to refund that percentage, often 2.9% of the sale, when buyers ask for a refund. It does not refund the fixed fee, often 30 cents. With the new policy, PayPal will not refund the commission or the fixed fee on either full or partial refunds for either sales or donations!
The policy change appears on a PayPal “Policy Update” page. The page is undated, but the dates appearing on reactions posted by sellers indicate the seller community became aware of the change late last week. A PayPal representative tells Digital Transactions News that the change, he says, “brings us in line with return-fee policies across the industry.”
We at CaixaPay do not agree to this and feel its another hit in the teeth to its sellers. This is another reason why we built CaixaPay to give the people another choice for global payments. A way to avoid such unfair practices and high fees. With CaixaPay you can send CXP to anyone anywhere in the world in an instant, with cleared funds in the receivers wallet for literally almost ZERO fees.
PayPal can also be an expensive choice if you need to make payments internationally, whether or not you have an account with them. You could save a lot of money if you choose CaixaPay