PayPal has 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. 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.
"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," says Rohan Mahadevan, Vice President, Asia Pacific, PayPal. "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.
"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," says Cornel Ung, Chief Executive Officer at Digital World International Ltd. "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."