Online payment processing service Paypal announced that it will soon stop protecting payments for transactions related to gambling in several countries.
The online payment platform recently issued a statement, where it outlined the changes it will make to its Payment Protection policy and User Agreement, impacting buyer and seller protection as well as dispute resolution.
According to the company, “gambling, gaming and/or any other activity with an entry fee and a prize” will be included in Paypal’s updated list of “ineligible items” for protection starting June 25 in a number of countries, including the United States, Canada and Brazil.
Aside from gambling, other items that will no longer be eligible for payment protection include payments on crowdfunding platforms and payments made to any government agency.