SAN JOSE, Calif., March 31, 2020 /PRNewswire/ -- PayPal
Holdings, Inc. (NASDAQ: PYPL) today announced a set of relief
measures to help its more than 24 million merchants around the
world impacted by the coronavirus (COVID-19). The company is
waiving certain fees and will be deferring repayments on business
loans for some of its most affected small business customers.
"Small businesses are the lifeblood of our national and global
economies, creating jobs and helping local communities and families
thrive. When they succeed, we all succeed. We are taking immediate
steps to help our small business customers who are most impacted by
the coronavirus pandemic to help them navigate these challenging
times," said Dan Schulman, president
and CEO, PayPal. "This is just the beginning. We all need to step
up to support our small businesses. We are actively working with
governments and private sector partners to help support businesses
in this time of need."
PayPal's efforts to assist its business customers impacted by
the coronavirus include:
- Business loans and cash advances: Customers can request
to defer repayment, with no additional cost.
- Chargeback fees: PayPal is waiving chargeback fees for
merchants if their customer files a dispute with a credit card
issuer through at least April 30,
2020.
- Instant funds transfer: PayPal is waiving fees to
instantly withdraw money from a PayPal business account to a bank
account, Mastercard Debit or Visa Debit card through at least
April 30, 2020.
- Customer disputes: PayPal is extending the window in
which merchants must respond to a customer dispute from 10 to 20
days through at least April 30,
2020.
- PayPal Business Debit Mastercard: In partnership with
Mastercard, PayPal is doubling the instant cash back reward on
eligible purchases beginning April 1
through at least April 30, 2020.
PayPal continues to focus on providing access to the tools,
products and financing on which its small business customers
rely.
For the latest information about PayPal's response to the
coronavirus, please visit the company's newsroom.
About PayPal
PayPal has remained at the forefront of
the digital payment revolution for more than 20 years. By
leveraging technology to make financial services and commerce more
convenient, affordable, and secure, the PayPal platform is
empowering more than 300 million consumer and merchant accounts in
more than 200 markets to join and thrive in the global economy. For
more information, visit paypal.com.
Contacts
Investor Relations
Contacts
Gabrielle Rabinovitch
grabinovitch@paypal.com
Akila Moorthy
amoorthy@paypal.com
Media Relations Contact
Josh
Criscoe
jcriscoe@paypal.com
646.667.5065
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SOURCE PayPal Holdings, Inc.