PayPal tightens the purse strings of crowdfunding campaigns

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PayPal has changed their policies regarding crowdfunding campaigns in a stopgap measure to protect themselves from possible project cancellation. This was released in a blog post to the PayPal website by Chief Risk Officer Tomer Barel, he went on to explain that anyone who decides to use PayPal for crowdfunding purposes will be forced to explicitly state its backers that there is a risk of the "product" not ever being completed or delivered.

PayPal has started to engage crowdfunding campaign owners early on to clearly understand their campaign goals and help them ensure their campaigns are compliant with our policies and government regulations.

Together with the crowdfunding sites, we identify if campaigns are strictly fundraising or pre-selling merchandise.

We enable their campaigns without interrupting payments under the condition that the campaign owner is explicit and transparent to their contributors that there is no guarantee of delivery regarding the rewards being offered upon contribution.Tomer Barel

Posted: Mar 17, 2014 2:41 pm
Related Forum: Gaming Discussion

Comments

LatiasPosted: Wed. Mar 19, 2014

Monster-Munch
-Dropz People just hate on Paypal way to much.

Yeah i agree there bro, Paypal is really good and they are really helpfull cuz they do help you get your money back if you have been scammed but they do get soo much hate for no reason in my opinion.

Look up some peoples experience with paypal holding their money, people have had tens of thousands tied up (for months) for no reason because of paypal.

ResortPosted: Tue. Mar 18, 2014

PayPal hasn't done me wrong yet. I don't see this really effecting me tbh

El_Shaarawy_Posted: Tue. Mar 18, 2014

i thought paypal was a good service

SIKSPosted: Mon. Mar 17, 2014

Paypal has really been a bad service for me in the past couple of months. I might just switch to google wallet.

AdamuPosted: Mon. Mar 17, 2014

-Dropz People just hate on Paypal way to much.

Yeah i agree there bro, Paypal is really good and they are really helpfull cuz they do help you get your money back if you have been scammed but they do get soo much hate for no reason in my opinion.

DRPZPosted: Mon. Mar 17, 2014

People just hate on Paypal way to much.

GuyCodePosted: Mon. Mar 17, 2014

undisclosed
Int
daRealRush PayPal is good, it makes me feel safe to use a credit card through paypal.

yeah i like paypal too it gets hated on though and its like yes definitely.

they will usually always take the side of the buyer even if they are lying. Also the fees suck on PP

Not always. I know someone who went to buy something and then they tried to refund their money, but the person they were buying from called Paypal and stopped it.

Evo8Posted: Mon. Mar 17, 2014

undisclosed
Int
daRealRush PayPal is good, it makes me feel safe to use a credit card through paypal.

yeah i like paypal too it gets hated on though and its like yes definitely.

they will usually always take the side of the buyer even if they are lying. Also the fees suck on PP

Taking the buyers side is usually better, don't want to rip someone off with their money.

MultitaskPosted: Mon. Mar 17, 2014

undisclosed
Int
daRealRush PayPal is good, it makes me feel safe to use a credit card through paypal.

yeah i like paypal too it gets hated on though and its like yes definitely.

they will usually always take the side of the buyer even if they are lying. Also the fees suck on PP

yeah everytime when my brother uses PP he always gets some issue then we call and they couldn't help -_-.

undisclosedPosted: Mon. Mar 17, 2014

Int
daRealRush PayPal is good, it makes me feel safe to use a credit card through paypal.

yeah i like paypal too it gets hated on though and its like yes definitely.

they will usually always take the side of the buyer even if they are lying. Also the fees suck on PP

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