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PayPal changes its policies to disclose personal information to third parties?

January 13, 2009 - 2:17am | News | Payment systems |
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PayPal changes its policies to disclose personal information to third parties?
PayPal payment system has announced the coming update of its main polices and agreements. Payment processor said that starting from February 11, 2009 they will remove the option demanding the UK users to complete the Expanded Use Programme before making some operation. According to company they will automatize this process to avoid the requirement to complete the Expanded Use Programme.

Another piece of good news for the UK users is cancellation of all withdrawal fees. The fee applicable to UK users to receive Personal Payments which are also funded by a customer’s bank or PayPal balance will be amended to clarify that this will be free to UK customers if they receive Personal Payments via the “Personal” tab in the “Send Money” feature from another UK registered account, and which are also funded by a customer’s bank or PayPal balance. 
Another piece of good news for the UK users is cancellation of all withdrawal fees.

Further, Personal Payments received by UK customers via the “Personal” tab in the “Send Money” feature from a French registered PayPal account and which are also funded by the French customer’s bank or PayPal balance will be charged a fee of 0.5% of the payment amount. This fee will not be applied if the payment is made in Euros.

According to new Privacy Policy PayPal reserves the right to collect information about the user from other PayPal users, companies and etc. Also the amended Privacy Policy allows PayPal to contact the users by telephone for the purpose of confirming information about their identity, business or account activity.

The news release states that PayPal has added Group plc and Shufa Holding AG as agencies to which PayPal will disclose personal information for the purpose of confirming users' identity and prevent and detect crime, fraud and/or money laundering. According to new Privacy Policy those agencies will be authorized to retain information for the purpose of audit and fraud protection.
PayPal will disclose personal information for the purpose of confirming users' identity

Further, Tradera AB will be added as Group company to which PayPal will disclose account information for the purposes of providing joint content and services (like registration, transactions and customer support), to help detect and prevent potentially illegal acts and violations of policies, and to guide decisions about our products, services and communications (not acting as a sub-contractor of PayPal). PricewaterhouseCoopers Sarl (Luxembourg) will also be added as a permitted disclosee of customer account information for the purpose of allowing PayPal to test its Anti Money Laundering (AML) & Know Your Customer (KYC) controls.

Other amendments including transactions fees, Website Payments Pro Fees and other are available in Policy Updates. 

Source: PayPal




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Tags keywords: fee | money laundering | PayPal | user agreement | withdarawal
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