Policy Updates

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Policy Updates

 

Changes to the User Agreement, Combined Financial Services Guide and Product Disclosure Statement and the Privacy Policy

Effective date: 12 February 2015

 

Set out below are the key changes to the User Agreement, the Combined Financial Services Guide and Product Disclosure Statement and the Privacy Policy.

Changes to the User Agreement

We have changed clause S5.1(b)(iii) of the Seller Protection Policy in our User Agreement to clarify that the PayPal Seller Protection Policy does not apply to a transaction if the item is delivered in person or picked up in person.

Changes to the Combined Financial Services Guide and Product Disclosure Statement

The Combined Financial Services Guide and Product Disclosure Statement is amended as follows:

  1. We have changed the standard rate for commercial transactions and inserted a new tier of pricing for sellers whose monthly sales volume is between $2,500.01 and $5,000.00 in clause 18.4 as follows:
     

    Rate type

    Monthly sales volume

    Domestic Transactions*^

    Cross-border Transactions*

    Website Payments Pro – Hosted Solution and API - Domestic Transactions^

    Website Payments Pro – Hosted Solution or API – Cross-border Transactions

    Virtual Terminal – Domestic Transactions^

    Virtual Terminal – Cross-border Transactions

    Standard rate

    -

    2.6% + fixed fee

    3.6% + fixed fee

    2.6% + fixed fee

    3.6% + fixed fee

    3.6% + fixed fee

    4.6% + fixed fee

    Merchant rates

    $2,500.01 - $5,000.00

    2.2% + fixed fee

    3.2% + fixed fee

    2.2% + fixed fee

    3.2% + fixed fee

    3.2% + fixed fee

    4.2% + fixed fee

     

  2. We have changed the rate for cross-border transactions for sellers using Website Payments Pro – Hosted Solution or API and whose monthly sales volume is $150,000.01 and over in clause 18.4 as underlined below:
     

    Rate type

    Monthly sales volume

    Domestic Transactions*^

    Cross-border Transactions*

    Website Payments Pro – Hosted Solution and API - Domestic Transactions^

    Website Payments Pro – Hosted Solution or API – Cross-border Transactions

    Virtual Terminal – Domestic Transactions^

    Virtual Terminal – Cross-border Transactions

    Merchant rates

    $150,000.01 and over

    1.1% + fixed fee

    2.1% + fixed fee

    1.5% + fixed fee

    2.5% + fixed fee

    2.5% + fixed fee

    3.5% + fixed fee

     

  3. We have changed the rate for receiving (selling) Domestic Transactions with PayPal Here via invoice in clause 18.5 as follows:
     

    Invoice

    2.6% + fixed fee

     

  4. We have updated examples 1, 2, 5 and 6 in clause 19 to reflect the changes to the rates for commercial transactions.


Changes to the Privacy Policy

The Privacy Policy is amended as follows:

  1. We have inserted the following bullet points under the heading ‘How we use the personal information we collect’:

“We may use your personal information to:

  • manage our risks and help identify and investigate illegal activity, such as fraud; and
  • design products and services.”
  1. We have replaced the bullet point on credit bureaus under the heading ‘How we share personal information with other parties’ with:

“Credit reporting bodies and collection agencies to report account information, as permitted by law. To request a credit report or other information about you from a credit reporting body, we will provide information to the credit reporting body that identifies you. PayPal discloses information to Veda Advantage, Dun and Bradstreet and Experian whose privacy policies and contact details are available on their website.”