PayPal Plans Crowdfunding Policy Overhaul

PayPal plans to overhaul its policies around payments resulting from crowdfunding campaigns, the company said in a blog post earlier this week. Calling — but not by name — sites like Kickstarter and Indiegogo “potentially open to abuse,” risk management VP Tomer Barel wrote that PayPal is “talking to the major crowdfunding players that we work with to put in place a permanent solution that avoids unnecessary account limitations.” PayPal’s current ability to hold up funds came under fire earlier this week when the company froze (and then released) funds raised for a fighting video game on Indiegogo, Yatagarasu Attack on Cataclysm.