How Safe Is PayPal for Sellers & Buyers? 4 Tips to Stay Safe
PayPal is a popular service used to sending and receiving money online, whether it’s for a business or simply sending money to friends.
It’s used by small businesses all over the world as a form of taking online payment, and it is trusted by both sellers and consumers.
But how safe is PayPal for sellers and buyers?
We’ll take a closer look and give you some top tips for good security measures and staying safe online.
Here’s What We’ll Cover:
How Safe Is PayPal?
No service is completely risk-free, especially an online service that handles money.
With the rise of cyber-attacks and data leaks, it’s difficult to say with any certainty that anything that is kept online is wholly safe.
We’ve even seen data breaches in well-reputed companies that have extensive security features.
Taking all of this into account, PayPal is generally considered to be safe to use. At the very least it’s one of the more safeguarded platforms.
However, just because you’re using a service that is considered safe, doesn’t mean you can’t take extra safety precautions. Especially when it comes to making or receiving online payments.
Here are 4 top tips that you can use to help safeguard your money and your business:
1. Keep Software up-to-Date On Your Devices
Whether it be a computer or a mobile device, make sure that it has access to the latest security software or protection program by keeping it updated.
These programs are a great way to add an extra layer of security and safeguard any high-value items you may have stored on your devices.
Cybersecurity software is constantly evolving and updating to try and combat any attacks. So by making sure you’re constantly up to date with the latest versions you’re giving yourself another level of protection.
This way, you’re giving yourself the best possible chance at keeping your devices safe.
Your device should notify you if there is an update waiting to be downloaded. But it’s always best to check every once in a while that you’re fully up to date for that extra protection.
2. Avoid Public Wi-Fi
If you’re making a financial transaction or online purchases on PayPal it’s best to stay off public Wi-Fi. Even if you are just managing or viewing your account.
Public Wi-Fi is the easiest form of internet connection to breach. So if you’re making a translation over the Wi-Fi when an attack occurs, it will be much easier to gain access to your funds.
The best tip is to use your mobile data, or if it’s your business - using your secure business Wi-Fi.
3. Be Wary Of Emails From PayPal
As the old adage goes, it’s better to be safe than sorry.
Let's say you’ve received an email from PayPal that seems fishy or is asking for private information. In this scenario, the best course of action is to double-check with PayPal themselves.
Never click links in emails that you don’t feel are 100% authentic.
You may receive an email telling you to ‘click here to log into your account’. It's always a better idea to exit the email and access your account through your normal browser.
A good telltale sign is to double-check the email address the message came from. If it doesn’t look authentic, there’s a good chance it’s a fake email scam.
This is because some of these links will lead you to an impostor site designed to steal your login information.
4. Use a Dedicated Device
When accepting payments or making online purchases, it’s best to use a singular device that is only used for that purpose.
So whether you have an online business or a customer-facing business, it’s a good idea to dedicate a device to purely transactional purposes.
As it’s not being used for social media purposes or general internet browsing, there is less chance of it being targeted for an attack or breach.
This is just one of many security protocols that should be put in place for your business.
PayPal is generally considered a safe way to make any form of financial transactions. But that doesn’t mean you should let your guard down.
The best way to keep your business and your money safe is to be as informed on the risks as possible. The more you know about the ways that you could be targeted, the more likely you are to see the warning signs of any fraudulent activity.
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