Penny auction sites selling Visa gift cards and the like without pre-approval are acting in violation of PayPal‘s Acceptable Use Policy.
Just recently, penny auction site BidCentsible.com had their PayPal account suspended due to selling Visa gift cards, here’s the message that PayPal sent them:
“A periodic review of your account shows that you are offering Visa Gift Cards as well as several other type of gift cards for sale and using your PayPal Account to receive payments for these cards.
According to the Stored Value Cards section of our Acceptable Use Policy, “You may not use PayPal to resell pre-paid debit or other stored value cards, unless they are associated with a single vendor.” Single vendor is defined as any stored value card that can only be redeemed through purchases at one retailer.”
While we wish you the best of success in your future business endeavors, we respectfully ask that you seek another method of payment for your online business.
Your PayPal Account has been limited and there will be no appeals to the decision. Any remaining funds in your account balance will be held for 180 days from the date of the limitation.
Once 180 days has passed, the funds will be available for withdrawal. If you have any further questions, please feel free to contact us again. Sincerely, Jana PayPal Compliance Department PayPal, an eBay Company Responses to this email address are not monitored. Please send any additional questions that you may have to compliance@paypal.com.”
What is PayPal’s policy for merchants who use PayPal as money transmitters or to issue stored value cards? |
|---|
“PayPal defines a money transmitter as any business that accepts and transmits currency or funds, or the value of the currency or funds, by any means.PayPal defines stored value cards as funds or monetary value represented in a digital electronic format. They can be stored on electronic media, and retrieved and transferred electronically. PayPal prohibits reselling pre-paid debit or other stored value cards unless they are associated with a single vendor.Merchants must seek prior approval if they intend to use PayPal as a money transmitter or for first-party issuance and sale of pre-paid debit and stored value cards associated with a single vendor.To be approved, merchants must provide proof of license or registration with the applicable country-specific regulatory bodies and their anti-money laundering policies and procedures. Merchants can inquire about approval in accordance with this policy by sending contact information, business URL, and a brief business summary to compliance@paypal.com.”
U.S. merchants can go to www.fincen.gov to determine if they meet the federal threshold of a dealer in precious jewels, metals, or stones. U.S. merchants that meet this threshold must receive prior approval from PayPal. All merchants outside the U.S. engaged in this type of business should contact PayPal for approval.Merchants must provide proof of registration with the applicable country-specific regulatory body, proof of internal anti-money laundering policies and procedures, and evidence of other controls. Merchants can inquire about approval in accordance with this policy by sending contact information, business URL, and a brief business summary to compliance@paypal.com.
That’s why online pharmacies is becoming more popular over the last years. Well-known are remedies which are used to reduce inflammation caused by inflammation of the skeletal muscle etc. There were only few examples. Did somebody tell you about canadian generic Viagra? Maybe you already know about the matter. Sexual dysfunction can be a result of a physical condition. Even when it has a physical reason, psychological problems can make the disorder worse. Sex drive problems are so commonly a product of how you feel that there is some to that “headache” saying after all.
