PayPal tightens the purse strings of crowdfunding campaigns

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PayPal has changed their policies regarding crowdfunding campaigns in a stopgap measure to protect themselves from possible project cancellation. This was released in a blog post to the PayPal website by Chief Risk Officer Tomer Barel, he went on to explain that anyone who decides to use PayPal for crowdfunding purposes will be forced to explicitly state its backers that there is a risk of the "product" not ever being completed or delivered.

PayPal has started to engage crowdfunding campaign owners early on to clearly understand their campaign goals and help them ensure their campaigns are compliant with our policies and government regulations.

Together with the crowdfunding sites, we identify if campaigns are strictly fundraising or pre-selling merchandise.

We enable their campaigns without interrupting payments under the condition that the campaign owner is explicit and transparent to their contributors that there is no guarantee of delivery regarding the rewards being offered upon contribution.Tomer Barel


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"PayPal tightens the purse strings of crowdfunding campaigns" :: Login/Create an Account :: 28 comments

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UnbindPosted:

You cant go wrong with Paypal! I love using it and use it everyday! Thank god that they are doing this!

InvictusPosted:

PayPal is amazing.
You can receive money from all over the world.

ValorPosted:

Am I the only one who doesn't use PayPal?

BrigandPosted:

Never experienced any problems with paypal since I never had my account linked.
Wonder what people would use if they stop using paypal?

DanimalsPosted:

Kopa paypal for me has been pretty bad!


paypal has been bad for a lot of people and they are really losing tons of people. i dont use it anymore because of frozen accounts all the time

KopaPosted:

paypal for me has been pretty bad!

TravitorPosted:

DJSLobbies
Kopperberg i thought paypal was a good service


It is but they do have there very bad sides , i dont like paypal after bad experiences


I can't think of any bad sides, only way of getting bad experiences with is if you use the service incorrectly.

IntPosted:

DJSLobbies
Kopperberg i thought paypal was a good service


It is but they do have there very bad sides , i dont like paypal after bad experiences


With every sort of company like this you will probably have bad experience at sometime.

-DanPosted:

Kopperberg i thought paypal was a good service


It is but they do have there very bad sides , i dont like paypal after bad experiences

L33t-Ninja-MuchPosted:

iv'e been done wrong by paypal but its all good now i dont bother with it