EBay UK Launches 'Protection Plan' to Attract Users
 

LONDON (Reuters) - Online auctioneer eBay Inc. on Monday said it has launched a buyer protection security feature for its British business unit, aiming to attract bigger-spending traders to its booming UK marketplace.
This week, the company will introduce a buyer protection fee for goods purchased on eBay UK through the company's online payment system PayPal, thus insuring customers for damages amounting up to 250 pounds ($464.50).

The move comes as online retail sales across Western Europe is exploding; the level of online fraud is booming too.

"Our research shows that a third of online users are reluctant to spend more than fifty pounds online. This is a way to appease those customers and get them to spend more online," Geoff Iddison, chief executive of PayPal Europe, told Reuters.

(Reuters)