The global payments company, PayPal Holdings Inc., is starting to respond to the COVID-19 pandemic which impacts businesses worldwide with relief activity. PayPal announced several measures aimed at cutting fees and deferring loan payments for merchants on March 31th.

More than 24 million businesses accept payments or other services from PayPal. All of the measures announced March 31 are good through April 30 and may be extended beyond that date, the company said.

In a move to cut costs for immediate availability of funds, PayPal is waiving fees through April 30 for instant transfers from the merchant’s PayPal business account to a bank account or card.

“We are taking immediate steps to help our small-business customers who are most impacted by the coronavirus pandemic to help them navigate these challenging times,” said Dan Schulman, PayPal’s chief executive and president, in a statement. “This is just the beginning. We are actively working with governments and private sector partners to help support businesses in this time of need.”

Reference:

PayPal Offers Relief For Merchants During Coronavirus
PayPal Takes Action to Assist Small Businesses Affected by Coronavirus