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PayPal To Waive Certain Fees, Deferring Repayments Amid COVID-19 - Quick Facts

PayPal Holdings, Inc. (PYPL) announced Tuesday a set of relief measures to help its more than 24 million merchants around the world impacted by the coronavirus (COVID-19) pandemic.

The company said it is waiving certain fees and will be deferring repayments on business loans for some of its most affected small business customers.

PayPal is waiving chargeback fees for merchants if their customer files a dispute with a credit card issuer through at least April 30, 2020. It is also extending the window in which merchants must respond to a customer dispute from 10 to 20 days through at least April 30, 2020.

It 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 April 30, 2020.

Additionally, PayPal is doubling the instant cash back reward on eligible purchases beginning April 1 through at least April 30, 2020 in partnership with Mastercard.

"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," said Dan Schulman, president and CEO, PayPal.

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