PayPal Ends Buyer and Seller Protections for NFT Transactions
Main page News, NFT
Hot topic
17 April

PayPal has made changes to its terms of service that remove buy and sell protections for non-fungible token (NFTs) transactions.

The new policy, which takes effect May 20, means that purchases of NFTs will not be covered by PayPal's buyer protection policy, and sales of NFTs over $10,000 will not be backed by the company's guarantee against false claims, chargebacks or other scams.

The company announced these changes on March 21, but they have gone unnoticed until now.

PayPal has stated it no longer offers protection for NFT transactions due to uncertainty surrounding proof of order fulfillment and other factors in the NFT industry.

According to PayPal's policy page:

"Effective May 20, 2024: We are revising PayPal’s Purchase Protection Program to exclude from eligibility: Non-Fungible Tokens (NFTs)."

Read also:
Please describe the error