Paypal security, frauds and problems?!

[ellivir]

I would like to know how many people know these issues:
***url is an ad for another payment processor***

about Paypal security, frauds and problems? Is this bad-mouthing by a competitor or real things? Paypal is by the way a real bank nowadays... so atleast that goes wrong on the claims these people say.

I'm just wondering the truth since so many open source folks have used paypal for long and for sure it would have been announced here as well that it is not a good partner. ZC has a special module even partnered with them, so ZC is encouraging people to use Paypal.

Elli

[tj1]

Most of the time you only hear about the bad experiences with a company.

Only a few of people who are satisfied with a company will take the time to express so.

This applies to all companies, not just paypal. If a customer is unhappy, s/he will almost always take the time to write a review expressing their discontent. If they're satisfied, they usually just carry on.

I process anywhere from $50,000 to $100,000 a year in transactions through paypal. I've only had a couple of incidents when paypal reversed payments without a good reason, only because they "thought those transactions could be fraudulent".

I got a little angry because I qualified for their seller protection policy by their own terms and they didn't make good of it. Luckily, the amounts were relatively small so I didn't bother taking further action, but it had been a larger amount I would've probably sued.

I also have at least $10,000 in my paypal account at any given time and it earns a good interest rate while in there. I do worry sometimes they might freeze my account, but so far it's all been good.

[Kim]

Moderator note: The URL originally posted is really an advertisement for another merchant service provider.

All payment methods have their good points and bad. You need to read and understand the contracts and terms of all payment providers.

[ellivir]

Moderator note: The URL originally posted is really an advertisement for another merchant service provider.

All payment methods have their good points and bad. You need to read and understand the contracts and terms of all payment providers.

I understood it as advertisement as well but of course that kind of site should be closed in case they are not telling the truth. I do not like when people are trying to gain value by mocking others. It's like US Presidential Elections. Not nice really.

I hope I can trust in Paypal in future since there's going to be business built on the trust of their services.

Thanks for the answers! :)