PayPal Adds Price Matching, Credit, and Return Shipping

[engine]

That price matching is quite a deal.

Never miss a deal with Price Matching: Know you’re getting the best deal; pay with PayPal and get the lowest price using our Price Matching offer. If the item you purchase is advertised for lower with any merchant within 30 days of purchase, you can receive a reimbursement for the difference. It doesn’t matter if you bought the item online, in a store or a new item from eBay’s Top-rated sellers using “Buy It Now”. And get this – even airline tickets from the same carrier that drop in price within seven days of your purchase are eligible for price match!PayPal Adds Price Matching, Credit, and Return Shipping [thepaypalblog.com]

Return Shipping On Us: If you change your mind about a gift you purchased within 30 days and the merchant accepts returns but doesn’t cover return shipping, feel free to return it with our complimentary return shipping.

More time to pay with Bill Me Later: We recently announced that with PayPal you can pay later. every purchase of $99 or more qualifies for 6 months special financing subject to credit approval.

[BeeDeeDubbleU]

Goodwill hunting? ;)

[jojy]

It's only for US.

[jecasc]

You mean people can buy in the shop they trust, the one with fast delivery and good service instead of the cheap, not reliable looking shop that only has the item on backorder and then get the $200 price difference on their new TV from Paypal?

Either they did not think that through or there is some fine print that they forgot to mention in the blogpost.

Ah yes here it is:

Some restrictions apply, see terms for details.

[engine]

Either way, it seems to be a win-win for consumers.

I am concerened for the smaller ecommerce sites and their ability to compete with these offers.

[SevenCubed]

I read this out of casual interest rather than as someone who can benefit from it. If I step back a bit it seems like a rather desperate move from the point of view of is the economy really worst than we are fully aware? I would think a financial services company like PayPal would tend to be closer to the pulse of consumer spending (or total lack of it) and an offer like this would be a strong indicator.

Here where I am I haven't really seen any strong indicators that we are getting ourselves out of the recession that began 4 years ago. I still have a nagging feeling that it also runs much deeper than merely a lack of consumer confidence. I think all of North America, as well as points beyond, have maxed out their credit.

What else can be around the corner? Deflation? Does it seem inevitable or am I reading too much into this? I have for a few months now been keeping my antenna up for signs of impending deflation.

[jecasc]

I am concerened for the smaller ecommerce sites and their ability to compete with these offers.

Why? They can sell for a price as high as the Manufacturer's Suggested Retail Price and simply tell people to order for the higher price and get their money back from Paypal.

That's the ridiculous thing about this offer - it is actually not an incentive to lower prices but to raise prices and tell people to let Paypal pay the difference.

[greenleaves]

whenever I read about paypal, I deeply wish some billionaire comes and puts up REAL competition against this company.

I hate them, far beyond what I could express in this post.

[oliondor]

Exactly what I m thinking ! Why nobody hits paypal in the face ?!

What are other businessmen doing ?

This trust is incredible ! Why Paypal ca't be attacked ?

[ken_b]

I read the link above, but can't figure out where the "refund" money is coming from.

The original sellers account?

[incrediBILL]

Why Paypal ca't be attacked ?

Google Wallet, Amazon Payments, Square... they're trying

[BeeDeeDubbleU]

And failing ... ;)

[Bewenched]

This is going to FAIL miserably in the long run. I wonder just how many hoops you have to jump through on this.

So say you buy all your christmas gifts for people, pay with paypal and then when the after christmas sales come around get back the difference in price.

Or better yet, buy from your own company and then drop the price and get money back..... this is so open for fraud.

This "refund" better NOT be coming from the original sellers.

[incrediBILL]

The easiest way to sidestep this is to only put unique part #s online and don't use those from the original manufacturer so nobody can claim they're the same thing, like the mattress industry does.

Comparison shopping sites also go right out the window.

FWIW, I think if retailers don't opt-in for this that if money is deducted for price matching without consent they'll simply stop taking PayPal. The thing I'd really worry about is if this proves popular that Visa, MC and Amex follow suit.

[dpd1]

whenever I read about paypal, I deeply wish some billionaire comes and puts up REAL competition against this company.

I hate them, far beyond what I could express in this post.

Why?

[hoosierdraft]

Anybody think that Paypal won't spend a lot of effort in not honoring price match requests:

The Price Match benefit does not apply to advertisements for close-out sales, flea markets, fire sales, cash-only sales, limited quantity promotions, liquidation sales, going-out-of-business sales, seasonal sales, door busters, Auctions, and sales valid for less than one day.

[rogerd]

Credit card companies have done this kind of thing from time to time. I think they count on 99.9% of their customers never following through on trying to collect a few bucks of refund money.

[jonathanleger]

Here's what my PayPal rep said:

That is correct the price matching (refund) will be done by PayPal not the vendor. As far as fraud comes the buyer needs to submit a form at www.paypal.com/holiday and also provide extra information: Sales receipt , printed advertising, lower advertised price, date, advertised store name etc.. all forms will be reviewed and approved so this will help with any fraudulent request. Just keep in mind that this will be PayPal’s responsibility the merchant receives a payment as he does today and all payments are reviewed as they are today.

[tictoc]

You get all of this using Platinum credit cards... it is good they have added benefits to purchasing with PP.