Hello!
My name is Mikhail [removed], I'm the owner of FunPay, and I would really like to see at least someone from PayPal read this page from beginning to end.
And although we have been working for a very long time, we decided to use PayPal relatively recently, October 8, 2022, when we opened our company in the UAE. It is extremely important for us to use PayPal, because absolutely all of our competitors successfully use it:
• g2g
• overgear
• playerauctions
• all others
Realizing that PayPal is an unfamiliar means of payment for us, we made it available not to everyone, but only to a certain focus group of our users, which we began to expand over time. Everything was going extremely well and we fully connected PayPal not only for the control group, but for all users of our site, but then a disaster happened: on November 19, 2022, a scammer came to our site who is hacking into PayPal accounts. He did:
• 988 fraudulent payment attempts.
• Successfully passed 170 payments.
He received our services and products, and a day later, PayPal sent us information that, it turns out, all these payments were unauthorized, and the real owners of PayPal accounts are not aware of these payments.
We have a top-notch anti-fraud system (which includes both administrative staff and special algorithms), however, we were not ready for this turn of events: we initially thought that PayPal was a secure system, so all our own security systems have been disabled for PayPal payments.
We have already taken all the necessary measures at the moment, and this situation cannot happen again.
Apparently, the PayPal administration decided that we were somehow connected with this criminal, and decided to block our account without the possibility of unblocking. This is a short-sighted and unfair decision that affects thousands of people - our customers who will no longer be able to pay us.
I would like to emphasize a few points in particular:
1) It is not a problem for us at our expense to return the money for any disputes in PayPal. We are ready to bear any losses.
2) For us, any period of HOLD funds is not a problem, we are ready to expect money for 21 days or 180 days - we have large reserves and this does not matter to us.
3) We don't mind taking on PayPal losses that result from carders and other scammers. We understand that PayPal is an insecure and unreliable system, but we are ready to work with it anyway.
4) If necessary, we can deposit a security deposit of up to 500,000 USD to our PayPal account (just for the peace of mind of the PayPal administration).
5) All of our competitors (like g2g, playerauctions, and pretty much everyone else) use PayPal. Our sets of services are absolutely identical. If PayPal believes that certain services on our site do not comply with PayPal policies, then we may remove them.
PayPal is very important to us, because buyers trust PayPal and want to pay through PayPal, feeling secure. That's the only reason we need PayPal - it helps us grow our company.
We posted a link to this topic from our website so that everyone who wants to pay us through PayPal can read this message and write a comment to our support.
Reference ID: PP-L-369344468249
