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This is frustrating, but not necessarily a conflict of interest. Any type of events business carries a significant risk to a payment processor. Funds are paid
by patsplat 11y ago
This is frustrating, but not necessarily a conflict of interest.
Any type of events business carries a significant risk to a payment processor. Funds are paid up front before services are delivered. If the event doesn't happen there will be a demand for refunds.
This isn't necessarily due to malfeasance on the part of the promoter. Imagine there was a conference booked in the World Trade Center for September 12th.
Boil it all down and what PayPal is doing is charging a higher percentage fee (aka the base fees plus the interest on the loan) for a business they deem to be more risky. Entirely fair.
Now for the way they presented those fees - absolutely unacceptable customer service.
- patsplat 11y agoTo clarify the comment about refunds. Participants would first go to the promoter. But if they were unable to resolve the dispute, they could then go to their bank and dispute the charge. My understanding of this is murky, but in the end PayPal does carry a liability for those funds as a participant in the transaction.