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PayPal stops payment protection for online gambling

Tuesday 17 May 2016 00:25 CET | News

Online payment processing service PayPal has revealed that it will soon stop protecting payments for transactions related to gambling in several countries.

The online payment platform recently issued a statement, where it outlined the changes it will make to its Payment Protection policy and User Agreement, impacting buyer and seller protection as well as dispute resolution.

Aside from gambling, other items that will no longer be eligible for payment protection include payments on crowdfunding platforms and payments made to any government agency.

The online payment company made its way back into the choppy waters of US online gambling in 2015, when it quietly agreed to a deal with WSOP.com to offer its deposit and withdrawal services via its Nevada- and New Jersey-based online entities.


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Keywords: online fraud, online security, cyber security, fraud prevention, PayPal, online gambling, payment protection
Categories: Fraud & Financial Crime
Companies:
Countries: World
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Fraud & Financial Crime






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