Notice of Policy Updates

Click here to view this message in your browser. NOTICE OF POLICY UPDATES Hello " ": Because you're a valued PayPal customer, we want to let you know about the changes we're making to the PayPal User Agreement, PayPal Here Agreement and the PayPal Website Payments Pro and Virtual Terminal Agreement that will go into effect on April 19, 2018. We’re also launching an update to the PayPal Privacy Policy that will replace the existing PayPal Privacy Policy on the same date. If you're interested in more detail, please visit our Policy Updates Page. What you'll see in the updated User Agreement If you want to get a better understanding of what’s different in the User Agreement, some highlights are: • Changing some of the fees we charge. • Changing the balance functionality for your PayPal account depending on whether we have been able to verify identifying information that you provide to us. • Updating the additional requirements for coverage of Unauthorized Transactions under our Seller Protection program, so that they require that the payment must have been made in connection with a transaction where the buyer logged into their PayPal account to complete the transaction, in order for sellers to be covered under the program. • Updating the eligibility requirements for the PayPal Purchase Protection program. • Clarifying that certain checkout transactions will require a backup funding source. • Clarifying how we calculate transaction exchange rates where we perform a currency conversion. • Removing terms related to the Pay After Delivery product, as we will soon no longer offer this product. • Adding terms providing that a hold may be placed on a payment sent to you at the instruction of the marketplace, if you sell on a marketplace and accept payment through your PayPal account. • Clarifying that Sellers have certain obligations under applicable law around how they collect, store and protect user data of customers in Europe. • Updating the user agreement to enable you to seek public injunctive relief in court instead of arbitration, if a court decides that you have a right to pursue that type of relief and it is not available in arbitration under the terms of the user agreement's arbitration provision. What you'll see in our new Privacy Policy We updated and streamlined our privacy disclosures in the PayPal Privacy Policy. This Privacy Policy, which includes a Consumer Privacy Notice, will replace our current Privacy Policy for PayPal Services and explains the information we collect, how we use it, and the choices and controls you have across our various services. We reworded some content and added details to make our practices easier to understand. The ways we use and share your information will not change under our updated Privacy Policy. Our Policy Updates page contains highlights of the changes, as well as a link to the PayPal Privacy Policy. We encourage you to review the changes and the full Privacy Policy in advance here. What you'll see in the updated Pro/VT and PP Here Agreements To clarify that PayPal is not acting as a money transmitter in connection with the PP Here and Pro/VT agreements, we added a section to those agreements stating that PayPal is acting as the merchant’s agent to receive payments on their behalf from their payers. These changes, along with the others detailed on our Policy Updates Page, will become effective April 19, 2018 for all U.S. users. We encourage you to review the Policy Update and familiarize yourself with the changes that are being made. If you do not agree to these amendments, you may close your account before April 19, 2018. Thank you for being a PayPal customer. Sincerely, PayPal — Please do not reply to this email. We are unable to respond to inquiries sent to this address. For immediate answers to your questions, visit our Help Center by clicking "Help" located on any PayPal page or email. Copyright © 2018 PayPal, Inc. All rights reserved. PayPal is located at 2211 N. First St., San Jose, CA 95131. NA05909