How does paypal save you from online scams/
2007-07-23 15:56:15 · 4 answers · asked by dbethanid 4 in Business & Finance ➔ Other - Business & Finance
It saves your personal data from being stolen.
If you buy something from company XYZ normally you have to give them your credit card number and let them charge the price and hope that no one steals that data. If Pay Pal is involved in the transaction then you give the credit card number to Pay Pal and company XYZ gets their money without ever seeing your full credit card number.
If XYZ's data base is hacked into or if XYZ is run by people who want to scam you then your credit is a risk, with Pay Pal the risk is lower. Since the whole idea of Pay Pal is to keep the credit card numbers secure they work very hard on their security to keep it secure and if they get hacked into and have their credit card numbers stolen then the entire business could fail. So their security is job number one with them.
With company XYZ job number one is selling you their products. Security is nice to have and needed, but it isn't as critical as it is to Pay Pal and you.
2007-07-23 16:02:46 · answer #1 · answered by Dan S 7 · 1⤊ 0⤋
Just like the first guy said, and they back the purchases with a guarantee that they will cover any fraud. It may take a while (it took me over a year) but they came through because I was able to prove the product I purchased and the product I received were not alike.
2007-07-23 23:05:07 · answer #2 · answered by t. 4 · 0⤊ 0⤋
If you follow paypal's guidelines they will protect but if you don't then you aren't covered.
2007-07-23 23:04:48 · answer #3 · answered by C C 3 · 0⤊ 0⤋
They don't give out information to a third party
2007-07-23 22:58:29 · answer #4 · answered by ♥Sweet Girl♥ 5 · 0⤊ 0⤋