PayPal Announces Small Business Client Relief Measures
PayPal Holdings (NASDAQ: PYPL) is stepping in to assist with financial relief efforts in the wake of the SARS-CoV-2 coronavirus outbreak. On Tuesday, the company unveiled a set of measures aimed at helping small businesses cope with the deleterious economic effects of the pandemic.
PayPal will allow its business clients to request deferral of payments they owe; if granted, the company won't charge additional fees for the privilege.
It is also widening the period of time during which business clients must respond to a customer dispute; it is now 20 days long instead of 10. Customers filing disputes with payment card issuers will not be liable for chargeback fees from PayPal. The company is also waiving fees for its instant withdraw service, under which its users can withdraw funds from one of its business accounts to another bank account or certain debit cards.
Source Fool.com
