PayPal's new refund policy
What just happened? PayPal have announced some amendments to their user agreement that have not gone down well. From May 7, the company will no longer refund seller’s fees when a buyer asks for their money back.
PayPal has been the go-to payment platform for many small vendors since it was popularized on eBay and other online marketplaces. Currently, when someone sells goods or services, they are charged a flat transaction fee, plus a percentage-based commission on the sale. If a customer asked for a refund, everything except the small transaction fee was returned, but now PayPal has said it will keep seller’s fees, causing anger among users.