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Disadvantages of PayPal Are Few But Deadly
May 21st, 2009 by admin
Most people can easily count the disadvantages of paypal on one hand, however each one can easily kill an online business or send online shoppers heading for the hills. The basic disadvantages of the easy way to send money online are below.
1. Dispute – Items not received. For those selling electronic goods this is by far the most common dispute that occurs. Scammers make purchases and then claim they never received the item. Without proof of shipping (unavailable with email delivery), the buyer gets the product and their money back.
2. Dispute – Significantly not as described. In this case the buyer agrees they received the item(s), but that the item was not what they were promised. Scammers use this to get good products and return junk. In this case, the buyer usually wins (but at least you have their address, so feel free to call their local police).
3. Dispute – Chargeback. PayPal accounts are hacked all the time resulting in unauthorized purchases. The easiest method scammers use is to sell a legitimate product with the intention of obtaining PayPal login information before the client is sent to the PayPal website. They then use the login details to make purchases on the account. Sellers can take comfort in PayPal’s seller protection (if shipping information is provided).
The disadvantages of PayPal can cripple an online company. Protect yourself by using extreme caution online and by protecting your PayPal login information.
