PayPal Suspends Payment Protection for Gambling Transactions

Internet banking firm PayPal has announced that they will stop protecting transactions related to gambling in the United States, Canada, and Brazil.

The announcement was made via a statement put out by PayPal, in which it stated the various changes it will be making to its User Agreement and Payment Protection Policy. Beginning on June 25th, the company will list gambling, gaming and/or any other activity with an entry fee and a prize in its ineligible items for protection in the above-mentioned countries.

Gambling isn't the only area getting the boot from protection, as crowdfunding and government payments are also set to get the boot.

Other countries will not be impacted by this move, which include the UK and various other countries where online betting is regulated and licensed.

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15 May 2016 - 10:04pm

Well I'm not sure why PayPal exactly doing that but as we know they are monopole company in some areas of the online business and it's a shame for that powerful company that they could do almost everything they've decided without any consequences. Hopefully this wont be too bad of a change for the punters from those countries.