There is one very clear advantage of using Paypal over using a credit card for online payments. When you utilize a credit card to pay for an online transaction, details like the credit card number, holders name and even the billing address needs to be disclosed. These details will be disclosed to every seller from whom you purchase a product of service and use a credit card to settle payment.
Opening a verified account in Paypal does require a credit card validation but, the details of your credit card remain only with Paypal. They will not be disclosed to every seller that you pay through Paypal. There are cases where you will fund a Paypal pay transaction through your credit card, even in these circumstances details of your credit card remain with Paypal.
This is one very important advantage in using Paypal to pay for your online transaction. You should ofcourse stay informed regarding the various security measures that will enable to keep your Paypal account safe.
There is a very disturbing trend that has developed in online commerce or, ecommerce as it is popularly known. There was a time when buyers were afraid of sellers committing frauds and not shipping merchandise that they (buyers) had paid for. Similarly sellers were cheated by buyers using fake credit card information, merchandise would be shipped to the buyer and the seller would then be informed by the bank that the card was infact a robbed one and did not belong to the buyer. The seller would be forced to refund the payment received to the bank issuing the credit card, the buyer ofcourse got away with the merchandise paying nothing for it.
That was the normal scenario, before a third party came into the picture and was capable of cheating the buyer or the seller. These fraudsters used various email communications trying to get confidential login information for online payment modes like Paypal. Armed with this information, they would then hack the victims paypal account and use the funds for their own benefit.
The emails would be made to appear like genuine paypal emails and contain links to click and login. The contents of the email could differ but the purpose is always the same, to compromise security of a paypal account. Here are some types of email contents that are very popular with these fraudsters.
(a) Account suspended or unauthorised activity. In this email, the victim is urged to login to his paypal account and update his profile information. The email goes on to say that some unauthorised activity was noticed in the paypal account and requires this update. The victim is informed that failing to do the update would result in account suspension. The links on these emails do not lead to the genuine Paypal website. They instead, divert the victim to a look-alike webpage hosted by the fraudster on another web host.
(b) Payment has been made: Another more worrying email content is when the fraudulent email claims that, a payment has been made to an XYZ party from the victim’s Paypal account. The victim is naturally very worried as he would have no idea regarding the payment. Should the
(c) Email added to Paypal account: The victim in this case receives an email that an additional email address was successfully added to his Paypal account. Once again, the fraudster hopes that the victim would click the link on the email to quickly check and rectify the situation.
The report is compiled in the public interest by http://www.kaijewels.comThe leading online custom jewelry provider from Thailand. Please pass the information to your friends and relatives. We can together build a safer and stronger ecommerce transaction platform for all of us.