Why NOT Accepting PayPal as a Merchant Can No Longer Be Viewed as a Negative!
The amount of fraudulent and hacked PayPal account orders we would get weekly would astound people, both through ebay and our website – there is this crazy mindset that PayPal is safe and secure, but all that has come from is a marketing campaign. PayPal is just a brand created by eBay over the years. It is amateur to be kind, in the area of cyber security, and they’ve got people storing all their personal information, secure bank details, credit card information etc – ripe for identify theft and fraud.
Naturally fraudsters and hackers target merchants selling products of value so we have a heightened awareness of just how unsafe PayPal is with the bullion and collector products we sell, compared to a merchant selling say, mobile phone accessories.
Regardless of business decisions made, our thoughts on reading the article above are just generally with all those people who have PayPal accounts with the false sense of security that their personal and financial information is safe.
Take control of protecting yourself and keep a strong awareness of where your details are stored – cyber attacks are rising, and the pain that will occur when they succeed in accessing personal and financial data will be incredibly stressful for all those affected.
We know it firsthand having dealt daily with affected parties until we ceased accepting PayPal as an option of payment – we were opened up to what is truly safe transacting for both customers and merchants alike. We have all the evidence, examples, and information to support the statement. It’s very real, and very painful and stressful for PayPal users continuously affected each day – and if you haven’t been affected then we truly hope it remains to be like that. But the risk is there – and preventative action is far better than needing to react as a victim of fraud.
PayPal is just a name and a brand that has accumulated an enormous amount of data under a false pretence of being safe and secure. eBay has sold PayPal – so don’t be fooled into thinking that they are not looking at integrating safer payment options – if eBay is doing it, all merchants should. We also know this as we have been asked to participate in presenting all the information and examples as a case study for potential business proposals for alternative payment options that eBay is internally preparing here in Australia.
PayPal is far from safe and just what impact the next cyber attack like the one above may have remains to be seen – just be alert and aware and protect your personal and financial data by continuously changing your PayPal password, don’t use Windows or browser autosave passwords on your PC or laptop for logins, and reset periodically your secret questions. Keep your anti-virus software up to date, schedule frequent scans so your computer is safe from virus or other malicious programs.
Or delete all your data and have your PayPal account shut, as you can still use the PayPal services fully to purchase things as a guest payment by payment and as you need to with your credit or debit card.