Web Marketing Experiences

Alert PayPal major security problem

Hi,

Remember my last post about Paypal?

It's even worse than I thought!

In a national newspaper some days ago I read an article about a major security leak in PayPal.

Since PayPal directly accepts credit cards without a prior deposit on a PayPal account, it seems that fraud has exploded. PayPal by NO MEANS can verify if a credit card transaction is valid. And if it goes wrong, than it's the seller who pays for the fraud!

So if you sell something and accept PayPal as payment system, you have no guarantee that you will get your money (be sure to check the PayPal user agreement and I doubt that you will stay longer than 1 microsecond on their site). You'll even have a large possibility that you'll be fined by PayPal itself because PayPal has opened a highway for fraudulent buyers.

Bye, bye PayPal, nor longer my Pal...

Eric

posted by Web Marketing Lies @ 2:01 AM