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Thread: Using PayPal - pros and cons

  1. #1
    Senior Member razz's Avatar
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    Using PayPal - pros and cons

    It seems that everything is getting more complicated and the legal aspects are quite demanding.

    I have been using PayPal because it kept my CC information at arm's length adding an extra level of security. PayPal has further updates with even more legal language.

    Help me understand the pros and cons of using PayPal please. Any info to consider is appreciated.
    As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”

  2. #2
    Senior Member Tradd's Avatar
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    Does your credit card allow for the creation of one use numbers for security purposes that hide your actual CC number?

  3. #3
    Senior Member SteveinMN's Avatar
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    I've been using PayPal more lately because I just don't want to put CC information (even "disposable" or limited cards) on a bunch of different Web sites. I've seen how people maintain IT security! In addition, recently two vendors let me know one of their service providers had a breach that exposed personal information (though, to anyone's knowledge, not CC numbers). Anyway, I figure PayPal has more of an investment in maintaining security than Acme Western Hats does, even if they've farmed out processing to some Web shopping plug-in. PayPal also was very convenient for ebay purchases (since they were part of the same company). I've also tried to narrow down electronic payments to people by using only PayPal, so I don't have to use Zelle or Venmo.

    As someone who rarely sells things to be paid for through PayPal, little of the language in the updated terms of service apply to me. I might feel differently if I were a big-time ebay seller or routinely responsible for goods and services paid that way, but I haven't had an issue with the updated terms in quite some time. That, I guess, would be a con of using PayPal.

    Another con is that I'm running a fair amount of business (well, not a lot but maybe 4-5 transactions a month these days) through one provider. If PayPal has a problem/breach/prolonged outage, I'm kinda outta luck since I'm not set up for any of the other big services. But that hasn't happened in the time I've used it. It could happen, but it could happen just as easily with another provider, so I'll just watch and hope that PayPal has their act together.
    Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome. - Booker T. Washington

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    Reward dollars for using credit cards?

  5. #5
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    I've used Paypal for at least 20 years for most everything that isn't Amazon, and I've had no problems.
    The pro for me is avoiding using my credit card for all and sundry, and there may be a con, but it hasn't registered.

  6. #6
    Senior Member iris lilies's Avatar
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    There was a period where ebay and PayPal were mad at each other and got a divorce, if I remember correctly.That was a thorn in my side because I buy often of ebay as I like used, vintage, stuff. Their divorce had something to do with security or else it was sold as that, and that period had me contemplating cancelling my Paypal account.

    Then the two made up and one bought the other (?) or something. Anyway, they got cozy again.

    I’ve used PayPal for many years, maybe ? 15-17? No problems. Convenience is key for me. My password is stored in the clouds and it is a click or two to buy something.

  7. #7
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by Simone View Post
    Reward dollars for using credit cards?
    oh! I never thought of that! Hmmm...

  8. #8
    Senior Member razz's Avatar
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    My CC that I use regularly has 4% in rewards plus an additional year's warranty support. The difference is I have control over its use whenever it is used for a specific purpose and location.
    PayPal is used whenever it is an option when dealing with an international organization. I did notice that the foreign exchange rate for Can/US transactions has increased from 3.5% to 4% in the recent update.
    As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”

  9. #9
    Senior Member Rogar's Avatar
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    Pretty much a ditto. I use PayPal for any non-Amazon internet transaction if it's offered. The fewer online places that have my CC info, the better.

  10. #10
    Senior Member beckyliz's Avatar
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    Paypal is more secure than Cash App. I think Venmo might be owned by Paypal? At any rate, Visa has been putting a "soft hold" on transactions through Cash App - you have to respond by saying it's legit. If you don't, the transaction won't go through and your Visa debit or credit card will have a hold on it for other transactions elsewhere.
    "Do not accumulate for yourselves treasures on earth, where moth and rust destroy and thieves break in and steal. But accumulate for yourselves treasure in heaven, where moth and rust do not destroy, and thieves do not break in and steal. For where your treasure is, your heart is also." Jesus

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