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Online e-Commerce Issues w/ PayPal?

Posted by Cliff on from the knowing-what-happens-with-your-money dept.

A concerned entrepreneur submitted this question for your consideration: "I run a very small online company and the main method we obtain payments for products is via PayPal. In this digital age having an easy way to accept payments for goods is critical to small business survival. Have you had problems with PayPal freezing your accounts, have you had any issues with PayPal harming any of your credit? Neither has happened to me but it it still is a concern. Recently, I was sent this site, became concerned and wanted to ask Slashdot readers for their input on security and any problems they may have had with this service." If you send your money to a website for safekeeping, you expect it to be safe, and a large part of this perception is based on dependable customer support. According the warning site, it sounds like PayPal might be a bit deficient on this end. Have any of you experienced similar problems?

"I don't necessarily trust the website I linked to, nor PayPal's statements. PayPal requires you to register your credit card AND your checking account and could conceivably and legally(?) remove any and all funds and stop you from withdrawing a dime from your PayPal account as well as your own checking account at their whim. What is a small business to do?"

Just an aside, if you are signing up for a personal account, you only need your credit card. It's merchants who want to use PayPal's premium features who have to specify banking information as well.

2 of 410 comments (clear)

  1. Almost there by 1ridium · · Score: 0, Redundant

    Paypal seems like it is a step in the right direction especially for online auctions but for now but it doesnt seem like it is quite there yet.

    --
    Make it idiot-proof and someone will build a better idiot.
  2. You only hear the bad news by leshert · · Score: 4, Redundant

    I think that some of the ire toward PayPal is because you only hear about the bad things that happen. When a transaction goes well, no one stands up and screams.

    I've been using PayPal for a long time, and I've never had a problem with it. I wish I could say the same for some of the vendor sites out there (e.g., I'll never buy again from half.com, but that's another story).

    In case anyone's wondering, this isn't astroturf support. I'm a real person who just happens to like PayPal.

    Tim