Quantcast
PayPal 'overhauling' its policies for crowdfunding - Destructoid




Game database:   #ABCDEFGHIJKLMNOPQRSTUVWXYZ         ALL     Xbox One     PS4     360     PS3     WiiU     Wii     PC     3DS     DS     PS Vita     PSP     iOS     Android


PayPal 'overhauling' its policies for crowdfunding


1:00 PM on 09.13.2013
CrowdfundingPayPal 'overhauling' its policies for crowdfunding photo



Every so often, we hear reports of PayPal freezing funds for crowdfunding projects. PDW: Hotapen's Yatagarasu Attack on Cataclysm was a recent example of this, and while everything has worked out for the developer, it's a scary process to see unfold. In a blog post, PayPal VP of risk management Tomer Barel wrote "...it's clear that our existing policies and processes aren't working quite right for this particular fundraising model.

"We are now in the midst of overhauling our policies in this space," he continued. "We're talking to the major crowdfunding players that we work with to put in place a permanent solution that avoids unnecessary account limitations. But making this work for all stakeholders -- contributors, entrepreneurs, crowdfunding sites and us -- is pretty complicated. As soon as I have more to share, I promise to update everyone."

For the time being, the company will have a senior member review crowdfunding campaigns before any action is taken. "It's a small, but important step," according to Barel.

PayPal and Crowdfunding [PayPal]






Comments not appearing? Anti-virus apps like Avast or some browser extensions can cause this.
Easy fix: Add   [*].disqus.com   to your software's white list. Tada! Happy comments time again.

Did you know? You can now get daily or weekly email notifications when humans reply to your comments.







Crowdfunding

4:30 PM on 10.06.2014
Still waiting for a new 2D Metroid? Take a look at Beyond Human

Every few months, I think about how great Metroid: Zero Mission and Metroid Fusion were. So, so great. Why isn't Nintendo doing more like that? I don't know, but the indie community seems to share my lamentation, creating ga...more



3:15 PM on 10.06.2014
Rogue Wizards has a bad name but it looks like a cool dungeon crawler/city builder

Many of us have crawled through dungeons hundreds of times, so it takes some special kick to get us to notice. Rogue Wizards has two: a city-building component that seems like it could be addictive and a cool visual effect r...more



8:30 AM on 10.01.2014
Elegy for a Dead World makes a game out of writing fanfiction

One of the great things about games today is that we are seeing new ideas in addition to the tried and true shooters and platformers. Elegy for a Dead World has one of those ideas, and it will be interesting to watch how it ...more



View all Crowdfunding






Back to Top




All content is yours to recycle through our Creative Commons License permitting non-commercial sharing requiring attribution. Our communities are obsessed with videoGames, movies, anime, and toys.

Living the dream since March 16, 2006

Advertising on destructoid is available: Please contact them to learn more