The updated protection program is set to provide a system which will enable eBay sellers to identify potential high-risk transactions as well as scammers who initiate online payments using another persons credit card, bank account or PayPal account. In such cases, PayPal will hold the funds until receiving confirmation that the funds are unauthorised, after which the funds will be returned to the legitimate buyers account, according to company representatives cited by the same source.
PayPal users receive an email confirmation on each account transaction. In case the user does not recognize a certain transaction and if he suspects that an unauthorized payment has been sent from his PayPal account, the protection service enables him to file an unauthorised claim.
PayPal’s Asia Pacific market has more than 12 million accounts generating USD 4 billion of its online transaction value in 2008, up 56 percent year-on-year.
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