Crowdfunding is a term that is gradually becoming more familiar to us, which represents an income route so that those projects that may be interesting can receive collective funding from supporters and supporters so that these projects can succeed. But of course, this type of income is not without abuse, and even the money that can be raised cannot always go to the project that is intended to be financed.
That is why PayPal announces a change in its policies that regulate the practice of crowdfunding through its platform, adjusting to government regulations around the world, with the mission of remaining a secure payment platform. According to the announcement itself, it indicates that the competitors have chosen to prevent you from using their payment systems for crowdfunding campaigns. PayPal is not closed to the use of its payment system in crowdfunding campaigns, although for the moment, each one will be reviewed by a member of the team itself before taking any action.
To implement a permanent and definitive solution, you are having contacts with the main crowdfunding actors, which will serve to reform your policies in this regard, thus avoiding unnecessary limitations on the accounts. PayPal promises to share more information as you have it.
He ends by stating that they never forget that they are taking care of other people’s money, and that the client is the main focus for their president, David Marcus.
With this, it is clear that PayPal wants to avoid the fraudulent use of its payment system in crowdfunding campaigns, which although it is an incentive for a series of projects that need financing to get them going, will have already detected cases where the money provided by supporters for the purposes indicated in the campaigns.
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