Paypal service

Discussion in 'other software & services' started by gkweb, May 15, 2004.

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  1. gkweb

    gkweb Expert Firewall Tester

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    Hi,

    I hope to not be OT in this forum.

    I am interested by Paypal service which allow me to send money to other paypal accounts and to receive too.
    Is anyone has an experience with Paypal and know if Paypal is secure ?
    I know when you log in the website the connection is encrypted in AES 256 bits which is a very strong algorithm, but how credit card number are stored ?
    Have you ever heard of a credit card numbers steal ?

    Besides that, what do you think of a website having a paypal button to make donation for people willing to do so ?
    Do you think it's "okay, why not" or do you think the website has turned into a money purpose site and don't you never again put a foot on it ?

    Thanks you for answers :)

    regards,

    gkweb.
     
  2. MikeBCda

    MikeBCda Registered Member

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    Hi,

    I reluctantly signed up with Paypal myself a month or two ago simply because it's the only payment service that some perfectly reputable online vendors etc. ever heard of. I know they had (and haven't yet escaped) a bad reputation for security concerns and customer service generally, but I think they've made a serious attempt to clean up in both areas.

    Probably the biggest threat to watch for doesn't come from them, but from outside -- like CitiBank, they and their customers are prime targets for look-alike identify-theft operations, usually via email. They've posted a warning on their site that any legitimate email from them will address you by full name and not as "Dear Paypal customer" or the like.

    So it probably boils down to whether you trust the vendor to have a legitimate link to them.

    Best,
    Mike
     
  3. Paranoid2000

    Paranoid2000 Registered Member

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    The Paypal Warning website lists a number of problems - and their Wall of Shame has some recent postings too which may be worth considering.

    I have noticed also that Paypal do appear to be competing with DoubleClick in tracking web activity - and via https links that are much harder to counter with web-filtering software (see my post on The dangers of HTTPS for more details).
     
  4. bigc73542

    bigc73542 Retired Moderator

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    I have personally have had nothing but trouble with paypal and will never use it again. Others have used it with no problems. But I personally believe that you are taking a chance with your personal info every time you use it.
     
  5. gkweb

    gkweb Expert Firewall Tester

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    By using it on a website, the worst that can happen is that I simply don't receive the money ?

    I have friends testing it currently, few have sent money to the other, for some the money has been succesfully transferred, but for the last they are still waiting.

    Thanks for the links paranoïd I will take a look at them.

    regards,

    gkweb.
     
  6. dvk01

    dvk01 Global Moderator

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    I use paypal as a method of receiving donations for my hedghehog rescue

    I have never had any problems receiving the money. It is one of the safest and cheapest ways of transferring money between different countries without paying extortionate bank commission charges.

    It is impossible for a small business or charity or simialar organisation to receive money from different countries in an y other way unles you want the banks to take all the proceeds for their charges

    as an example paypal charge a standard 4% or thereabout commission on all transactions. My bank charge a minimum charge of £8 or $12 to change any foreign Non GBP cheque or money order

    so if someone sends £10 via paypal, then rescue centre gets £9.60 via paypal but via a bank transfer or a cheque it gets £2

    Give me paypal any day and it has been totally safe for me, provided you use the same sense you would with all online transactions

    I have never heard of anyone actually having credit card or bank details stolen from paypal
     
  7. gkweb

    gkweb Expert Firewall Tester

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    Thanks you to share your experience dvk01 :)

    I would like to use Paypal in the same way you use it, and it's good to know it works well like that.
    I need too to send money to friends living in anothers countries, and the first problem we had while planning to do so, was indeed the bank tax or fees between different money/countries :-/

    The troubles related to Paypal I have read was mostly regarding to someone selling something, and the receiver claiming to not have received it, or using a stolen credit card number.
    Other trouble is the phishing used to fool Paypal users.
     
  8. dvk01

    dvk01 Global Moderator

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    Part does depend on what country yopu are in

    If you live in Europe you will automatically use Paypal Uk which has much tighter financial regulations that the US paypal.

    The european Union banking regs are much stronger and give more protection to the conmsumer than The US rules and regs do. Banks cannot crash and fail within the EU without the customer being protected

    Paypal europe is registered as an electronic transfer system not a bank and is controlled by the financial services authority in the UK and the EU financial authorities based in Germany

    I agree that reading some of the stories on paranoids link makes it look bad, but all the tales are to do with fraudulent purchases, that can't happen with using PP as a method of receiving money via a web site

    You do need to bregister as a merchant or business/premium customer to accept paypal donations/ payments via credit card and give bank or credit card details which are checked before accepting payments, that is where many of the so called frozen accounts problems comes from
     
  9. gkweb

    gkweb Expert Firewall Tester

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    Yes I live in Europe (France).

    Thanks you very much for these details dvk01 :)

    regards,

    gkweb.
     
  10. Eagle1

    Eagle1 Security Expert

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    I use PayPal for a number of different things including making it available in my business transactions. My personal experience has been good and I've been very careful to monitor their policies and activities.

    IMO they do a good job. They are very large, and as stated above, make international business much less expensive for the small enterprise, non-profit, etc. because of it. They are not perfect and some folks have had serious issues in the past. But overall they are good and quite safe. In some respects more so than most banks folks have no issue using online.

    And for the most part they are monitoring their sites for security reasons, to protect the users and their information, not to track for questionable reasons. I've not been exposed to spam, or solitications from them, or third parties, as a result of being a customer.

    IMO they are perfectly safe and a good method for the individual and small enterprise to increase business and grow. Its a perfect solution for donation environments.

    I consider myself old fashioned, conservative and security conscience. IMO there is little to worry about with PayPal.

    Have a great day!

    :)
     
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