PayPal, an eBay company, announced new protection for its eBay sellers. The new protection will be effective against any un-authorized payments and on "not received" claims for items sold on eBay websites.

The new technology - Seller Protection Coverage - will alert the seller of potential risk in transactions within moments of receiving a payment. It ensures sellers don't ship their items until the payment clears helping them to reduce their losses.

PayPal currently has over 70 million active accounts globally, said the company in a press release.

"PayPal's number one priority has always been providing the safest online payment service for buyers and sellers. For our eBay sellers in India, the new seller protection will provide confidence to grow their businesses safely in more markets," said Mario Shiliashki, GM of PayPal Southeast Asia and India.



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