Paypal - safe online shopping
After many cases of Internet fraud in the 90s, the web world needed a solution to help make online transactions a secure hassle-free procedure for buyers and sellers alike. Paypal was thus introduced by eBay, as a permanent solution to safe and secure online transactions for their customers.
Paypal requires you to have a bank account and credit card to become a ‘verified’ customer. If they have your bank details, they treat you as a verified customer, who can be reached in case of fraudulent transactions. So you know the guy you are dealing cannot vanish with your money, if he uses paypal. If you pay someone using this service, and he doesn’t hold his end of the bargain, you can open a dispute on the website www.paypal.com , and they will ensure that justice is made, failing which the offending party’s paypal account is suspended until things are cleared once and for all, failing which he/she loses all the money they have stored in Paypal. So, its no joke to make a fraud using a Paypal ID, in fact its not worth it!!
When you go shopping online and make an online purchase, or if you need to pay a provider some sort of fee, online, you need not surrender all your credit card details to this stranger. Instead, send him the amount through paypal, for a secure trouble free transaction. Paypal verifies all their users, the buyer as well as the seller, so you know you are dealing with a verified individual, who is answerable to Paypal. It is a good idea to verify at the start of business procedure, if the provider accepts paypal.
Paypal is more or less your online savings account, using which you can pay people securely and give an invoice when you are billing someone. I fact you can bill anyone with an email address, across 55 countries. Paypal has really opened fresh avenues for global business.
PayPal Debit Card
Paypal recently introduced the paypal debit card, which lets you withdraw funds from an atm. This is the final step, where paypal can actually be used as your online bank. Until now, you had to transfer your funds to a bank and then withdraw, but no more!
Having a paypal account can open doors to new customers if your business is going online. You don’t need to pay any amount to open and sustain a paypal account, but you are charged a negligible amount from every transaction, which is a percentage of the transaction amount. So, this makes it a commission-based thing, use less and pay less, use more, pay more!
PayPal phishing scams
There is no harm in opening a paypal account, in fact its nice to hove the ‘pay using paypal’ option if you market products or services website. But beware of all the paypal scam phishing mails around for many years and never tell anyone your password. The real paypal just won't ask you.
PayPal can only help you - it can get you new customers if you are a seller, and help you to pay securely if you are a buyer.