When you are using an online money transfer service it is very important that there are security and safety measures in place. Paypal offers such tools as a way to protect both the buyer and the seller. This results in a more trustworthy and safer environment for all parties.
As a seller, you will want to prevent financial loss that might be incurred through chargebacks or reversals for claims of items not received or unauthorized transactions. If the seller has proof of shipping and delivery to the listed address and of selling a physical item, they can benefit from the free Paypal Seller Protection services.
Paypal also helps to ensure buyer protection. Buyers will have 180 days to make a claim. There are a number of claims that can be made such as that a different item arrives than what you ordered, you did not receive the right number of items, an item is defective or you bought an original item but received a counterfeit. Paypal can help you get a full refund and be involved in the resolution process.
Disputes and Claims
As with all business, there are sometimes disputes and claims between buyers and sellers. Paypal aims to make the buying and selling process simple and to safeguard both parties. If a complaint is filed, Paypal will be involved in the resolution process while aiming to treat both the buyer and the seller in a fair manner.
Preventing Fraud Loss
With any online transactions fraud is a concern and there are always risks involved. Paypal aims to limit those risks as much as possible by employing fraud detection and prevention measures. It reviews all orders for unusual activity, it verifies all customer order information before the seller ships the item and it employs fraud detection tools.
Paypal offers account limitations which are designed to protect both the buyer and the seller. The limitations are implemented when any unusual activity is noticed and it is a way of protecting the buyer and seller. This may be if the seller’s performance is high risk and they are noted for poor performance or in order to comply with regulatory requirements or if we suspect fraud, such as a person using your account without your knowledge. The account will be limited from withdrawals or sending or receiving money.
As a buyer, you will probably feel safer knowing that the seller has been verified. A verified seller has provided additional personal information to Paypal and has passed security checks. While verification is not required, many buyers feel more comfortable doing business with a verified seller and sellers are becoming more keen to undergo the process.
Secure Financial Information
When you use Paypal to make an online transaction you do not need to share any personal or financial information with the seller. All of that information is stored on the secure Paypal servers. You only need to provide the seller with your email address, ensuring a safer and more secure process for you.