PayPal will significantly expand its Seller Protection policy in six markets in Asia – Indonesia, Malaysia, Singapore, the Philippines, Thailand and Vietnam.
The expanded protection will now cover eligible intangible goods including e-booking of travel tickets, tickets for an event, cab rides, services and more, which are based on unauthorized transactions.
Under this program, PayPal will provide expanded coverage in the event a customer files an unauthorized chargeback, or an unauthorized claim against a seller for services or eligible intangible goods.
Sellers will have an opportunity to respond to the claim within a reasonable period through proof of fulfilling the order. This will provide Southeast Asian merchants with greater confidence when trading domestically and overseas, whether they are selling physical or intangible goods.
According to Frost and Sullivan research, the total revenues from B2C e-commerce in these six largest Southeast Asian countries will grow at a CAGR of 37.6% to reach $34.5 billion by 2018. Within that, intangibles form a significant portion of the e-commerce base in Southeast Asia.