PayPal is Making Changes to Its Terms of Services—Here’s How It Will Impact Your Business

On April 14th, PayPal rolled out new changes to their terms of service leaving the broad audience of customers and retailers it serves disappointed.

Here is a glimpse of what you should expect in the new changes:

The high cost of refunds

Prior to the changes, PayPal’s refund policy was as follows:

•    The seller was entitled to return part or full payment to the buyer.

•    PayPal guaranteed to refund the seller the 2.9% transaction fee.

•    The buyer incurred no charges on neither the refund nor the original purchase.

In the new terms of service, as the seller, you will be expected to refund the buyer with the purchase amount.  However, PayPal won’t restore the 2.9% transaction fees to your account

Whether it is a reversal or refund, the seller will be accountable for all fees associated with a purchase. For low priced transactions, it may not have a significant impact, but for high ticket sellers, this will cause huge losses

How PayPal will be affected

Small business owners are annoyed by the changes, and some are discussing charging extra fees for returned items to cancel out with the loss of things returned.

This, however, is a temporary solution and can’t solve a canceled transaction where the item was never delivered.

Other traders are modifying their return policy to one that is more convenient to customers.

Paypal refund was also previously used to pay back consumers who paid more on shipping fees than the required amount. This is where a buyer purchased multiple similar items, and the seller reduced the shipping charges instead of charging double the fees.

This was a way to award multiple purchases, but now, sellers are discouraged to gift this discount. In a way, the buyer is also affected by these changes.

More and more changes

Other policies will also be redrafted. These include:

Removing the static rate of pricing on sending money outside the US to friends and relatives (note: not for business transactions).

As a PayPal user, you will be subjected to a 5% fee that ranges between $.99 to $4.99 and varies with the amount you send.

This new fee applies to all countries contrary to the previous fee that varied according to the recipient’s country. The rate of currency conversion will be 3.25%, and PayPal will charge an additional exchange fee for senders to foreign countries.

Paypal is also asking its users to link their accounts with PayPal cash or PayPal cash plus so that they can be able to hold or transact money from their PayPal accounts.

Notification for new changes will be sent at least 21 days before any user policy changes while businesses will have a minimum of 5 notification days.

When will the changes be implemented?

The refurbished policies will be officially implemented on May 7th, 2019 leaving sellers frantically rushing to change their store policies to curb losses or close their accounts which is not an option for most traders.

Author Bio:As the FAM account executive, Michael Hollis has funded millions by using bad credit merchant account instant approval solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.

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The Environment and US: The Best Bond For You

Human activities degrade the environment: harvesting resources without worrying about their renewal, deforestation, eradication of animal and plant species, pollution of water,soil, airand threaten the survival of all. The environmental challenge of sustainable development aims to implement daily actions to reduce waste, limit pollution, save resources to preserve them to maintain life on Earth. Environmental protection requires political will, strong involvement of companies, public authorities, all citizens, changing attitudes and changes in behavior of all. In the environment blog you can have the best suggestions.

Implement green initiatives projects focused on the overall preservation and enhancement of existing natural features

  • Partnering with the public and private sectors for projects that support and enhance the environmental quality of the Park, such as our participation in the Spare the Air Emissions Reduction Campaign.
  • Use the best technologies and practices available for the environment, where technically and economically feasible.

Actively participate in an integrated waste management system to reduce, reuse, recycle and compost

  • Develop an education around our commitment to the environment and conservation practices, train and motivate our employees to feel responsible for the environment
  • Ensure that water conservation is an essential component of all our plans
  • Actively participate in programs at our golf courses to improve environmental management
  • Propose and promote leadership in the areas of environmental protection, management and sustainability
  • Respect the laws and regulations in force concerning the environment

The recycling and composting programs within our Park have been recognized as a model for parks and other activities across the country. One of our major initiatives is the use of biodegradable plastic and recycling raincoats at Journey behind the fall, which welcomes millions of visitors each year.

Botanical Gardens & School of Horticulture

The Wood Chipping and Composting program has been in place for over twenty years at Niagara Parks! This policy has resulted in a significant reduction in the frequency of combustion and a reduction in air pollution by smoke, in addition to more bark mulch and wood chips to be used on the land. A windrow composting program for leaves and other organic materials has also been initiated to increase soil amendment programs for flower beds.

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Maintaining biological diversity

Protected areas contribute to the maintenance of biological diversity and ecological processes essential to life. They allow the dynamic evolution of wild species within the process of natural selection, and this, away from pressures and anthropogenic disturbances. They provide important environmental benefits such as oxygen production, soil creation and protection, pollutant absorption and reduction, improvement of local and regional climatic conditions, aquifer conservation, regulation and purification of watercourses.

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