How Safe is PayPal – PayPal is a Payment System Provider. With the aid of their services, people from more than 200 countries can process payments online. PayPal Business and PayPal Personal are the two main types of accounts offered by this PSP.
The Business Account allows e-commerce merchants to accept payments from their clients. The Personal account is meant to transfer money to friends/family as well as to accept payments from them.
PayPal has been on the market since 1998. The early history of the company was connected with the name of Elon Musk, who was one of the founders and the CEO of the company until 2000 when he left due to disagreement with other board members. Two years later, the payment service was acquired by eBay.
However, as soon as the potential of PayPal became obvious, it became an independent company that now operates transactions all across the globe. Nowadays, a lot of companies choose this service due to its established reputation.
PayPal, as we said earlier, is available in over 200 countries worldwide and supports 25 currencies. It is highly likely that the currencies that fit your needs will be on the list. The service charges 2.9% + $0.30 for each transaction.
The Advanced and Pro accounts are also charged $5 and $30 per month (respectively) as a recurring payment.
How Safe is PayPal?
Is PayPal Safe and Secure? The answer is yes.
Though some people say that it is even more safe and secure than online credit card transactions. PayPal uses HTTPS throughout their website. This level of security makes it almost impossible for internet fraudsters to attack.
More so, PayPal has a secure and encrypted website earlier said. As long as you have a secure connection to PayPal’s site, any information you exchange is hidden from other users.
PayPal has industry-standard security measures and even offers financial rewards to anyone who can find vulnerabilities.
With any online financial transaction, there are certain precautions to take to ensure safety. Keeping your software up to date on your computer and mobile device will limit risk.
Avoid using public Wi-Fi when managing or viewing PayPal. If you are out and about it is recommended to use mobile data. Using a credit card versus a debit card will increase safety as well.
PayPal also offers a buyer protection program. While it is not guaranteed PayPal will reimburse you, it is important to report transactions quickly. This program allows you to reverse charges if the seller fails to deliver what was promised.
PayPal Security Measures
There are some different risks associated with sellers using PayPal. Disputed charges are the biggest issue. Customers can easily dispute charges and claim that goods never arrived or that sellers did not provide exactly what was promised.
Being that PayPal typically sides with customers, sellers need solid proof to plead their case and have PayPal rule in their favor.
In order to limit this risk, it is important for sellers too, the only ship to verified addresses, require signatures for expensive items, clearly, explain in product listings what you’re selling accompanied with photos of the product, and communicate with unhappy customers promptly. How Safe is PayPal – the answer is simple: PayPal is highly safe.