PayPal Takes Action to Assist Small Businesses Affected by Coronavirus
"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
- Business loans and cash advances: Customers can request to defer repayment, with no additional cost.
- Chargeback fees:
PayPalis 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:
PayPalis waiving fees to instantly withdraw money from a PayPalbusiness account to a bank account, Mastercard Debit or Visa Debit card through at least April 30, 2020.
- Customer disputes:
PayPalis extending the window in which merchants must respond to a customer dispute from 10 to 20 days through at least April 30, 2020. PayPalBusiness Debit Mastercard: In partnership with Mastercard, PayPalis doubling the instant cash back reward on eligible purchases beginning April 1through at least April 30, 2020.
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