Do you feel safe using Paypal?

 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?

Advertisements

7 thoughts on “Do you feel safe using Paypal?

  1. I just started using PayPal but the only reason I began using it was because I had to. I wanted to buy something online and the only way to pay for it was PayPal. I was a bit on the fence about using it because I don’t like shopping online or putting any of my financial information online either, so far nothing has happened. How long have you had your PayPal account for?

    • I’ve had my account for at least a couple years. It’s certainly convenient, but I’m always nervous about online transactions. They do have an option to add a security key to your account for added security, but it costs an extra $26. I’m not sure how many people pay the extra money for the additional security.

  2. I have used paypal and most likely will continue to do so. This is the case because it would be better to use something that I know is at least a little more secure than simply putting my credit/debit card information into a site that I have never used before especially since in the past I was nearly scammed out of $100.

    • Paypal’s certainly got the experience and size to back up their security claims. The well know name and the hundreds of millions of users certainly help their credibility. I’d feel safer with paypal because if something were to go wrong, I think they would be able to reimburse me (provided the error was on their part)- That’s less about the digital security of the site however.

  3. I have stopped using Paypal for about a year now. In the past, when deals were made online, sometimes I would receive the short end of the stick when it came to the disputes over whether or not the deal went smoothly. People who use Paypal can use fraudulent information to obtain money and to launder it throughout the world. This leaves humane people like ‘us’ to be scammed out of our hard earned money and regret even using Paypal in the first place. Paypal is secure, however it really only is secure about its own behalf and of the money it deals. It really doesn’t do much for the users.

  4. I have used Paypal a lot since around 2003 and have never had a problem with fraud. I mainly just use it for Ebay, but it can come in handy for other things. In fact a while ago Ebay put a requirement that you have to use Paypal and says that it’s the only form of payment allowed. Ebay owns Paypal, so it’s obvious where all the seller fees money is going.

    I’ve known a few people though that have gotten Paypal money stolen and the thief’s were never to be found. The fact that it’s digital money and transactions are done online creates the insecurities. Anyone with enough know how could just use someone elses ip address and launder the money till it’s untraceable.

  5. I’ve been using PayPal for years and have never had a problem. But I’ve only used it as a buyer on Ebay, and I’ve always had good results on the few times I needed to dispute a sales. I’ve also added my Bill-Me-later account to my PayPal account. BUT, after reading this blog and the linked article, I’ll think twice about using it in the future.

Comments are closed.