13.01.2016, 20:29
Externer Inhalt (z.B. Newsletter, E-Mails, Seiteninhalte):Dear All,
I got some update from PayPal regarding the ongoing review and before we discuss it, just few words of background on why the current review is going on. There has been some changes recently in the terms and User Agreement policy at PayPal because of which they no longer support ad revenue sharing sites worldwide (or support conditionally) and because of which they have been reviewing our program to see whether there is any possible compliance so that we can continue using PayPal at our program. In the event if they find that we cannot continue using Paypal, they will freeze the funds in Paypal for 180 days before giving the access to us.
So, what we have been trying now is to see whether our business model is compliant with their terms or not so that we can continue the business with PayPal and have the access to our buyers' funds.
Some good news is PayPal found that they can be able to support Ad Revenue Sharing programs in Singapore with some changes made to their terms and conditions locally. So, they proposed to us that they will formulate those new terms and conditions locally so that if we match with them we can continue using PayPal at our program with newly implemented changes. In the event we decide not to be compliant with their revised terms and want to continue with our current business model and with other payment processors, the money in our PayPal will be frozen for 180 days and then will be released to MPA.
Hence, after careful consideration of all possible solutions, MPA management has taken the decision to wait until we know the revised terms and conditions of PayPal so that we can get the approval to use PayPal at our program. Until that point of time we will not be able to enable the add funds and also not able to enable the withdrawals using all payment processors. This may bring some disruption to our business but this seems to be the best solution at this point of time.
At the moment PayPal has not given any time frame yet regarding the whole process to be done but it may can take up to 2 weeks. We will know some indication of the exact time frame that it takes as we progress further.
On whole what we are seeing is it will be better to know PayPal's new terms to us so that once we are comfortable with those new terms we can run the business for long term without any major issues. The PayPal has changed their terms to be in compliant with the government policies, so when we are complaint with PayPal terms means we are fully compliant with the government legal rules.
We apologize for all the inconvenience caused and we hope that this whole process will make us strong to be in this industry for long term and serve everyone better to realize their dreams.
We will continue to update as soon as we have some progress. Thanks.
Regards,
Admin, MPA
