Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
PayPal Inc., eBay Inc.’s alternative online payment system, is giving buyers up to $2,000 of coverage for qualified transactions on eBay.com. EBay will no longer offer purchase protection for non-PayPal transactions.
PayPal Inc., eBay Inc.’s alternative online payment system, is giving buyers up to $2,000 of coverage for qualified transactions on eBay.com, doubling the coverage provided by the existing protection program. EBay will no longer offer purchase protection for non-PayPal transactions.
PayPal Buyer Protection is a free program covering qualified eBay transactions for non-delivery of items and for the delivery of items that are significantly not as described. EBay sellers in the United States and Canada qualify to offer $2,000 of PayPal Buyer Protection by maintaining a 98% positive feedback rating and having at least 50 feedback points.
For all other qualified transactions on eBay.com that are not covered by PayPal Buyer Protection, PayPal will provide up to $200 coverage with no processing fee, no minimum purchase price and no seller requirements, as long as the buyer pays for the item with PayPal. This replaces the eBay Standard Purchase Protection Program in the U.S. and Canada, which previously covered all eBay transactions for up to $200 minus a $25 processing fee.
PayPay will offer purchase protection on more than 95% of items listed on eBay.com, effective Jan. 17.
“This is a huge step in building even more trust in shopping on eBay, because it makes the message very simple-pay with PayPal and you’re covered,” says Rob Chesnut, senior vice president of trust and safety for eBay.
Qualified items will be marked with a green box indicating the amount of coverage available.