PayPal Working Capital is a merchant cash advance linked directly to your PayPal account.
PayPal relief measures to assist merchants during Coronavirus crisis
A set of PayPal relief measures have been announced to help more than 24 million PayPal merchants around the world impacted by the coronavirus. They are waiving some fees and will be deferring repayments on business loans for some of its most affected small business customers. They will also extend the window for responding to customer disputes and if you have a PayPal Mastercard your rewards will be doubled from today though to at least the end of April.
PayPal relief measures
The aim of the PayPal relief measures is to defer payments, waive penalty fees and give you more time to respond to customer disputes.
Business loans and cash advances
Customers can request to defer repayment, with no additional cost.
PayPal is waiving chargeback fees for merchants if their customer files a dispute with a credit card issuer through at least the 30th of April 2020.
Instant funds transfer
PayPal is waiving fees to instantly withdraw money from a PayPal business account to a bank account, Mastercard Debit or Visa Debit card through at least the 30th of April 2020.
PayPal is extending the window in which merchants must respond to a customer dispute from 10 to 20 days through at least the 30th of April 2020.
PayPal Business Debit Mastercard
In partnership with Mastercard, PayPal is doubling the instant cash back reward on eligible purchases beginning on the 1st of April through at least the 30th of April 2020.
“Small businesses are the lifeblood of our national and global economies, creating jobs and helping local communities and families thrive. When they succeed, we all succeed. We are taking immediate steps to help our small business customers who are most impacted by the coronavirus pandemic to help them navigate these challenging times. This is just the beginning. We all need to step up to support our small businesses. We are actively working with governments and private sector partners to help support businesses in this time of need.”
– Dan Schulman, president and CEO, PayPal
How about PayPal freezing the business rate commission that their customers are on right now? (or averaged over the last 12 months). I will not be the only business that will incur a 50% hike in PayPal fees due to my turnover dropping below £20k per month.