As Australia pushes to bring mobile payments to its largest retailers by next year, PayPal will extend its seller protection guarantee to those retailers. The payments provider is looking to bolster its security credentials so Australian companies feel more confident accepting payments through non-traditional systems, according to the Australian business website iTnews.
"We realize that businesses are actually the biggest target for fraud," Jeff Clementz, managing director, PayPal Australia, told iTnews. "The next big evolution for us is to help retailers to scale their businesses online and on mobile by protecting them against this sort of activity."
When the new protection policy takes effect on Oct. 11, PayPal will accept financial liability for sellers who have been targeted by fraudulent campaigns, providing they can provide proof of shipping and proper practice. The deal has previously only been offered to sellers overseas, iTnews said, and expands on PayPal's buyer-side guarantee to compensate online fraud victims by up to $20,000.
Meanwhile, PayPal will continue refining its risk-management technologies, Clementz said, with "dozens of Ph.D.s" to write algorithms and develop machine learning programs designed to identify questionable transactions.
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