At 10:00 AM -0500 12/10/2005, Peter Apockotos wrote:
I won't take cards using PayPal. Why? Once I did and the card was
stolen. I not only lost the money but the merchandise as well.
Sorry to hear you had that experience. Regretfully, problems occur -
it's the cost of doing business. Consider that the fraud rate over
the 'net is only about 2/3 of the fraud rate of normal mail-order and
card-present use.
If you had used a standard merchant account, such as thru your local
bank, you would not only be out the basic money and the merch, but
you'd be hit with up to a hundred dollars in chargeback processing
fees. AND be faced with higher transaction fees in the future, since
you now have a history of fraudulant processing.
Paypal is one of the better card processing services. But just
because they're "better" doesn't mean you can relax. You simply must
use common sense.
Review Paypal's policies and procedures carefully.
Make sure the buyer is Verified.
Only ship to the verified address.
Always use tracking / delivery confirmation.
For expensive items, always buy insurance and require a signature.
When fraud occurs, work with Paypal to get back what $ you can. But
then you can also file an insurance claim and fraud charges, since
you have the signature. This is no different than what you would
have to do in a normal meatspace transaction.
- Dan.
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