PayPal Holdings, Inc. announced a set of relief measures to help its more than 24 million merchants around the world impacted by the coronavirus (COVID-19) pandemic.
The company said it is waiving certain fees and will be deferring repayments on business loans for some of its most affected small business customers.
PayPal is waiving chargeback fees for merchants if their customer files a dispute with a credit card issuer through at least April 30, 2020. It is also extending the window in which merchants must respond to a customer dispute from 10 to 20 days through at least April 30, 2020.
It is waiving fees to instantly withdraw money from a PayPal business account to a bank account, Mastercard Debit or Visa Debit card through at least April 30, 2020.
Additionally, PayPal is doubling the instant cash back reward on eligible purchases beginning April 1 through at least April 30, 2020 in partnership with Mastercard.
„We are taking immediate steps to help our small business customers who are most impacted by the coronavirus pandemic to help them navigate these challenging times,” said Dan Schulman, president and CEO, PayPal.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”