Paypal now NOT reimbursing fees for cancellations

[TimBuckTwo]

Buyer requested a cancellation today and among other issues like the taxes not being credited back correctly, Paypal is NOT refunding fees either.

When I called to see what was up, PP said it has been in place since October.

What a mess ebay/PP are turning out to be now.

PP operator said most sellers are now putting a disclaimer on their sales about the fees.

What next?

[hairysasquatch]

What good would a disclaimer do? They will take your money regardless.
Cost of doing business, I guess.

[shrevecity]

Was announced in September and they have been doing it since October. This is not an Ebay thing this is strictly Paypal. On managed payments if you refund you get all your fees credited back.

[TimBuckTwo]

What are managed payments?

[Cavaliercards]

What are managed payments?

It is eBay's new payment system that they are slowly migrating everyone to by 2021 (when it will be required)

[TimBuckTwo]

So should Paypal be shorted hard?

LOL

[Bowman1951]

So should Paypal be shorted hard?

LOLSome people say no, eBay is a tiny sliver of their pie. Their Venmo arm is also stronger than ever. PYPL has over double the company worth as EBAY.

https://investorplace.com/2019/12/why-paypal-stock-looks-undervalued-and-gaining-momentum-headed-into-2020/

[coreywt]

Was announced in September and they have been doing it since October. This is not an Ebay thing this is strictly Paypal. On managed payments if you refund you get all your fees credited back.

...until eBay gets the idea to do the same thing.

[shrevecity]

...until eBay gets the idea to do the same thing.

And if they do it's an easy tax write off, not a huge deal. I had to refund 3 buyers last year out of 29,000 in Ebay sales.

[hairysasquatch]

It's just unfortunate that everything has to be so complicated.