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Probono · 11-01-2002, 09:10 PM

For those of you who have never seen the original Paypal email here it is in living black and white.

Dear Merchant,

We would like to update you on new Visa & MasterCard regulations that affect the way Internet Payment Service Providers (IPSPs) such as PayPal conduct business. Both Visa & MasterCard require high-risk merchants to complete a registration form, pay an initial registration fee, and pay renewal fees on an annual basis (details below).

We value our Merchants and are dedicated to providing you with the high quality service to which you are accustomed. Please note that these fees are imposed by Visa and MasterCard, not by PayPal. In keeping with PayPal's core policy of not charging set-up costs and/or annual fees to our Merchants, PayPal (in contrast with many IPSPs) will not add any additional or hidden costs to these Visa & MasterCard fees.

PayPal, like all other IPSPs, must comply with the regulations. In order to assure your continued access to PayPal's transaction platform, we need you to provide the requested information by November 1st. If we do not hear from you by the close of business on November 1st, PayPal will be unable to process your transactions until all such information has been submitted.

While some IPSPs have announced that they will cease processing for non-US merchants, that is not the case with PayPal. PayPal will continue to process transactions for high-risk merchants in the United States, Canada and Europe through our existing banking arrangements in these areas. In addition, we will continue working to expand our banking relationships worldwide.

Below is a summary of the requirements for both Visa and MasterCard:

VISA:

* Visa will require an initial registration fee of $500

* Visa will require an annual renewal fee of $250

* Paypal must provide Visa with monthly sales, chargebacks and refund information on each Adult merchant.

MasterCard:

* MasterCard will require an initial registration fee of $1,000

* MasterCard will require an annual renewal fee of $500

We will be sending another email out shortly requesting the specific information we will need to bring your business into compliance with the new regulations. We will also provide instructions on fee collection.

Should you have any questions, please send an email to [email protected]. We will endeavor to respond in a timely manner.

Very truly yours,

The PayPal Team

11-01-2002, 09:10 PM
Probono Confirmed User Join Date: Oct 2002 Location: Under the Rainbow Posts: 2,731	For those of you who have never seen the original Paypal email here it is in living black and white. Dear Merchant, We would like to update you on new Visa & MasterCard regulations that affect the way Internet Payment Service Providers (IPSPs) such as PayPal conduct business. Both Visa & MasterCard require high-risk merchants to complete a registration form, pay an initial registration fee, and pay renewal fees on an annual basis (details below). We value our Merchants and are dedicated to providing you with the high quality service to which you are accustomed. Please note that these fees are imposed by Visa and MasterCard, not by PayPal. In keeping with PayPal's core policy of not charging set-up costs and/or annual fees to our Merchants, PayPal (in contrast with many IPSPs) will not add any additional or hidden costs to these Visa & MasterCard fees. PayPal, like all other IPSPs, must comply with the regulations. In order to assure your continued access to PayPal's transaction platform, we need you to provide the requested information by November 1st. If we do not hear from you by the close of business on November 1st, PayPal will be unable to process your transactions until all such information has been submitted. While some IPSPs have announced that they will cease processing for non-US merchants, that is not the case with PayPal. PayPal will continue to process transactions for high-risk merchants in the United States, Canada and Europe through our existing banking arrangements in these areas. In addition, we will continue working to expand our banking relationships worldwide. Below is a summary of the requirements for both Visa and MasterCard: VISA: * Visa will require an initial registration fee of $500 * Visa will require an annual renewal fee of $250 * Paypal must provide Visa with monthly sales, chargebacks and refund information on each Adult merchant. MasterCard: * MasterCard will require an initial registration fee of $1,000 * MasterCard will require an annual renewal fee of $500 We will be sending another email out shortly requesting the specific information we will need to bring your business into compliance with the new regulations. We will also provide instructions on fee collection. Should you have any questions, please send an email to [email protected]. We will endeavor to respond in a timely manner. Very truly yours, The PayPal Team Last edited by Probono; 11-01-2002 at 09:13 PM..