Paypal to end gambling protection in several countries
Paypal has announced it is to stop protecting payments made by customers for online gambling transactions in a number of countries, including the US, Canada and Brazil.
The online money transfer giant will amend its Payment Protection policy and User Agreement, with the changes impacting buyer and seller protection, as well as dispute resolution.
Paypal’s updated list of ‘ineligible items’ for protection will include “gambling, gaming and/or any other activity with an entry fee and a prize”.
The move will also impact customers in certain countries that use Paypal for making payments to crowdfunding projects.
“This is consistent with the risks and uncertainties involved in contributing to crowdfunding campaigns, which do not guarantee a return for the investment made in these types of campaigns,” Paypal said, according to the BBC.
Related article: PayPal set to enter US iGaming market