Editorial Summary

Tencent's (0700.HK) consumer-to-consumer (C2C) auction site Paipai.com has released a new voluntary return policy for Paipai sellers, reports China Business Times. Sellers agreeing to the new policy should allow their buyers to return any product without giving a reason within seven days. Paipai.com will reimburse buyers for defective products that cannot be returned or negotiated with sellers within 14 days. Over 1,000 Paipai.com stores have signed up to honor the policy, according to Paipai.com public relations department manager Yang Sha.

Alibaba's consumer-to-consumer (C2C) e-commerce site Taobao.com released three new opt-in regulations to help protect purchasers on March 11, reports New Express. Under the voluntary regulations, sellers can agree to offer a seven day reason-free return period on all products excluding cosmetics and virtual items. If sellers fail to offer returns, Taobao allows buyers to apply for reimbursement which the company will deduct directly from seller accounts, if approved. Secondly, sellers will be charged three times the selling price of their product in compensation to buyers if Taobao determines that the product does not match its online description and the seller did not offer a refund. Finally, Taobao is trying to guarantee fast delivery of virtual items by offering compensation, again directly deducted from seller accounts, for sellers who do not deliver within a specified timeframe after advertising the product as "in stock". All of the regulations are optional. Buyers will be able to see on the sellers' page if they have agreed to the conditions or not.