PayPal brings Seller Protection to Hungary
PayPal is extending its Seller Protection program in Hungary, covering sellers with the full amount of their payment on eligible sales in cases of unauthorized payment, such as a hacked account or a buyer claiming not to have received an item ordered, according to a press statement sent to the Budapest Business Journal.
The program has hitherto been applicable in Hungary to tangible goods only, but now it also applies to services (for instance, design, education or photography etc.), tickets (to concerts, shows, sport events, etc.), and travel (trips, flights and hotel bookings, etc.).
“Iʼm really excited about this addition to our services. The decision to extend the Seller Protection program was made by PayPal to give its sellers assurance that they can leverage e-commerce on a larger scale and with greater confidence for more types of goods and services,” says Matt Komorowski, Managing Director for PayPal Northern & Central Europe.
“These changes are an important step in providing our sellers with enhanced protection when using PayPal,” Komorowski added. “Knowing you’re covered if things go wrong should be a basic requirement when shopping and selling online.”
Komorowski noted that the improvements were driven by user feedback and allow people to trade on the internet with more confidence than ever before.
“We are pleased to be able to introduce these improved protections – in addition to other important services, such as Buyer Protection and Refunded Returns - as part of our work to increase trust and confidence in e-commerce,” he added.
The program helps Hungarian merchants to sell goods and services more securely to clients not only in Hungary, but in all other 200+ markets where PayPal is present. According to a recent report by global consultants Accenture, cross-border e-commerce is taking over as the key growth engine in B2C trade, with a CAGR of 29.3% from 2014 to 2020, PayPal noted.
One of the most popular categories sold cross-border is travel (tickets, accommodation, guides, etc.), which represents 26% of all goods sold, as well as services. PayPal said it hopes that extended Seller Protection will help Hungarian merchants reach a new level in their businesses.
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