[ic] The PayPal Soapbox continues. . . .

Jim Balcom interchange-users@interchange.redhat.com
Thu Feb 21 18:28:00 2002


On Thu, 21 Feb 2002, Julia Jacobs wrote:

JJ>>Why would you want to use your Credit Card with PayPal?  If your going to
JJ>>use your Credit Card for a transaction, buy from someone with a frigging
JJ>>legit merchant account so your under the warrantee of Visa or Master Card!

The concept is that Charley is more comfortable giving his credit card
number to PayPal than giving it to IDK Enterprises (who has a legitimate
merchant account, SSL Certificate, and all that good stuff.)

In October 2000 someone took the number that was on my check card and opened
an account at PayPal and got $450 out of my checking account. I had only
given that number to 2 businesses, besides PayPal. Neither PayPal nor my
bank would tell me who it was that did it, and it took 3 months before I got
my money back.

I can understand where Charley is coming from.

I went to my bank and opened another checking account and got a separate
'visa-like' check card for it. This number is used for all of my
transactions on-line and on the phone - all purchases where there is no card
present. Through the on-line banking, I move money into that account as
needed to keep Visa happy. If someone steals the number, they get very
little money and I can immediately cancel that card and get another one,
thus minimizing the damage.

I think that people don't realize the protections that are in place by Visa,
MasterCard and American Express (and probably Discover and Diners) that
protect both the Merchant and the consumer.


-= Jim =-

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Tagline for Thursday, February 21, 2002 at 18:25 PM:
Oxymoron: Senatorial Courtesy.

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