If you’ve ever shopped around the internet, you’ve probably come across Paypal before. It’s one of the biggest online payment transfer companies there is. The question is, how secure is this site, and with big names like Ebay requiring you to use it, do we really have any choice in the matter?
According to the Paypal site, they think their site is pretty secure:
PayPal automatically encrypts your confidential information in transit from your computer to ours using the Secure Sockets Layer protocol (SSL) with an encryption key length of 128-bits (the highest level commercially available). Before you even register or log in to the PayPal site, our server checks that you’re using an approved browser – one that uses SSL 3.0 or higher.
Once your information reaches the PayPal site, it resides on a server that is heavily guarded both physically and electronically. PayPal servers sit behind an electronic firewall and are not directly connected to the internet, so your private information is available only to authorized computers.
I’ve personally never had any problems with Paypal, and I’ve used it quite often. There are certainly horror stories though. Even having known there is a risk using this service, and now that I’ve researched this in more detail and read all the stories of people who’s accounts were frozen, and lost thousands of dollars, I’m undoubtably still going to use Paypal. I don’t have much of a choice. There’s also an inherent risk in doing any transactions online, no matter where you go. So unless I find an amazing alternative, and sites start supporting that alternative, I’ll stick to paypal.
What do you guys think? Do you use Paypal, and if so, do you feel safe?