PayPal Security FAQ
PayPal lets you send money without revealing your credit card or banking information. Both Buyers and Sellers are protected against fraud, and your privacy and security is protected better than with any other online payment system. They do this by severely restricting who sees your personal information. I made this FAQ so you can understand how.
1. What is PayPal?
2. How popular is PayPal?
3. How Safe are payments using PayPal?
4. What are the risks with most conventional non-PayPal systems?
5. What makes PayPal the SAFEST method to transfer money online?
6. Does it cost extra to use PayPal?
7. Why is PayPal the preferred payment system for International purchases?
8. Do I need to open a PayPal account to make a purchase?
9. Why do I need to sign up for a PayPal account?
10. Why should I sign up for a PayPal account?
11. How do I know my order has been processed properly?
- What is PayPal?
PayPal lets anyone with an email address send and receive money online, and is the most experienced credit card and check processing company on the internet. PayPal uses existing financial infrastructures of bank accounts and credit cards, and acts as the only intermediary between the Buyer (You), and the Seller (NLP Plus). This is what makes PayPal the most trusted online payment system.
- How popular is PayPal?
With 86.6 million registered users, PayPal is the most popular method of making online payments. It is the winner of "Best eCommerce Solution" by SIAA Codie Awards, has been listed as one of the Top 100 Sites on the Web by PC Magazine, Best CyberTech by Time Magazine, received numerous awards by MIT, was awarded a Forbes Favorite, and has been awarded Best Finance Site as well as winner of the People's Voice Award by Fortune Magazine's Webby Awards.
- How safe are payments using PayPal?
PayPal has been called the most security-obsessed company on the web.
PayPal protects your privacy by using the most comprehensive fraud prevention systems available to restrict who sees your personal information, as well as protect your banking information from unauthorized use by others. All systems are monitored 24 hours a day, 7 days a week. When using PayPal, your financial information is always safe.
- What are the risks with most conventional, non-PayPal payment systems?
With most non-PayPal payment solutions the following people all see your credit card number:
1) The people you are buying from,
2) The people at the company hosting the website,
3) The Payment Processor company that charges your credit card,
4) The Payment Gateway company that interfaces between your credit card and the Payment Processor company, and finally,
5) Your credit card company.
As you can see, with non-PayPal payment systems, not only do lots of people get to see your credit card information, but you are also relying on the Seller's security and privacy. And there may be more. With most conventional non-PayPal payment systems, if the seller's web site is hacked, your credit card information can be made public (ever read about these?). Not only that, you are trusting the Seller to maintain the privacy of your credit card! So, with most conventional online payment systems, you may get some ease of use, but at the cost of sacrificing your privacy.
- What makes PayPal the SAFEST method to transfer money online?
With PayPal, only people that see your credit card number is:
1) PayPal,
2) Your credit card company.
That's it. Really.
Unlike other payment solutions, with PayPal you have all the power and control because your credit card and bank accountinformation is never shared with the merchant. This adds significant security to your payment, making a PayPal transaction the safest and most preferred way to send money over the internet.
- Does it cost extra to use PayPal?
Absolutely not. There are no hidden fees or costs with PayPal.
- Why is PayPal the preferred payment system for International purchases?
Because PayPal offers the best network for insuring the privacy of your information. PayPal also offers the best Buyer exchange rates, insuring that you do not pay costly currency exchange rates. More information is available on PayPal's website here.
- Do I need to open a PayPal account to make a purchase?
In most cases, no. While you may be asked if you want to sign up for a secure PayPal account, you may choose not to by clicking "If you do not currently have a PayPal account, click here" (see screenshot). However, in some cases you might be required to sign up for a PayPal account if an extra level of security is necessary for your protection. Reasons can be because of the credit card used, your internet connection, or your country of origin demands a secure account to protect you against fraud. When done properly, only the true credit card owner can successfully sign up for a secure PayPal account.
- Why do I need to sign up for a PayPal account?
This is for your own security and is becoming a common practice. Because PayPal insists on an extra level of security to protect your transaction, sometimes your credit card company or your country of origin may require that you sign up for a PayPal account to provide you with a solid level of security to protect your online transaction.
Your credit card company knows that someone who had stolen your credit card number would find it almost impossible to be able to complete a secure PayPal transaction with your credit card. This is why more and more online companies are using the PayPal system to insure the most solid and trusted protection of any online financial transaction. By opening an account you create a unique identity complete with a password known only to you and PayPal. Opening an account does not commit you to anything - it only ensures that when your credit card is used, PayPal knows you are the legally authorized user and that the transaction has been authorized by you. Think of it as a key.
Millions of people across the world consider PayPal to be the only safe way to pay for eBay auctions, or other goods and services online.
- Why should I sign up for a PayPal account?
Because signing up for a PayPal account provides more safety and privacy than just giving your credit card information to a merchant. It protects the Seller against fraud, and protects your privacy and security better than any other online payment system.
- How do I know my order has been properly processed?
The PayPal website will indicate that your transaction concluded satisfactorily, and will email you a legal receipt confirming your transaction. Please remember that all transactions are private between yourself and PayPal. Goal Communications and NLP Plus do not receive your credit card information and are only informed that a transaction has taken place. Because a Seller is not privy to your credit card or PayPal account details, your credit card can not be used by the merchant for additional charges without your express permission.
