Same reason most auction houses don't accept credit cards. They work on increasingly competitive consignment rates and buyers premiums. If an auction house is making 15% on an item and they accept Paypal they are immediately giving away about 20% of their cut, more if they are accepting an International transaction. They can cut that down with bulk transactions but they are still giving money away they think they don't have to.
They are also burdening themselves with more risk accepting credit cards. They can make 15% on an item but lose 100% of the cost of an item 2 months down the line if somebody decides to do a chargeback. If anything we've learned from years of experience on Ebay is that Paypal never fights chargebacks no matter what the reason............especially from the dreaded "item not as described".
It's not a coincidence Heritage has one of the highest buyers premiums in the business and also accept credit cards.
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