Originally posted by SSGGeezer True, but they aren't losing any money at 3% of every transaction they process! That is more than the interchange fees most credit cards charge nowadays, and they still give you the whole amount if you dispute the charge.
The idea isn't to not lose money, the idea is to make money.
Depending on how the deal falls through, the seller can keep the paypal fee, issue a 100% refund, or split the fee.
If it's a simple case of buyer remorse, I don't see why the seller should have to lose money. Let the buyer take the hit if he changes his mind after the fact.
Where it would get dicey is when a product doesn't match the description. My idea of very good condition might not be the same as yours, for example. This might be a situation where a partial refund of fees would be in order.
If the product is flat out not as advertised, then that becomes a situation where the buyer should have no risk. At that point, the vendor should be paying return shipping as well.
---------- Post added Feb 5th, 2020 at 03:32 PM ----------
Originally posted by BigMackCam Absolutely - and in this sense, PayPal isn't doing anything differently than other payment services, e.g. Visa. But that's the thing... PayPal is becoming just like other payment services - there's less and less differentiation. It's going to become less attractive to small businesses and individuals selling online... and for those who continue to use it, it's going to make them far less inclined to offer refunds without a fight. With eBay (for example), where bias swings towards the buyer in relation to honouring refund requests, that could mean small businesses and individuals are less likely to use that marketplace.
Again, it's entirely PayPal's right to make this change, and I understand the reasons. I'm just not so sure how that will pan out for its business - and I think it'll make a number of individuals, selling items of no-longer-wanted photographic equipment online (including our Marketplace), far less willing to offer refunds. It's bad for both seller and buyer...
When I bought my last Rottweiler, I did it via direct money transfer from bank to bank. I believe it was called an Interac eTranfer or some such. There were no fees attached to it. Granted for many people this might be an unacceptable leap of faith, but when I sell something via payPal, I make sure the money is safely in my bank account out of their reach before I send the product anyway, and I don't let Paypal have access to my credit cards. I have a bank account just for PayPal, and it has just enough funds in it to keep it open except for the few minutes when someone pays me for something.
So that is a leap of faith for a buyer anyway.
I'm not sure if eTransfers work from country to country or how exchange rates are calculated. I dio expect Paypal takes a bit of flesh for currency exchange too.
The takeaway for me is to not buy anything you don't really want or need, and don't misrepresent anything you are selling.