Page 2 of 2 FirstFirst 12
Results 11 to 15 of 15

Thread: Using PayPal - pros and cons

  1. #11
    Senior Member
    Join Date
    Jun 2012
    Posts
    4,768
    The first item I bought from Ebay, was in 95 or 96, and was a 387 math coprocessor for $1. Paypal didn't exist then, and the postal money order protections, worked well for me (only ever had one issue, and when the inspectors showed up on their doorstep, very quick resolution). I was finally forced to use Paypal when the two merged and Ebay made it Paypal only, unless you had your own credit card processing (business). I am not fond of payment information, actually being stored anywhere online, and generally do "guest" checkouts, where it doesn't save it. On Amazon, I do the transaction, add the card, then delete the card once done.
    I wish those disposable, one use CC numbers were available at my CU, but they aren't big enough.

    Now, the only thing liked to Paypal is one bank account, which I had to do when I hit the "spending limit" while purchasing a several thousand dollar piece of equipment, for work (which went on to save our butts several times, since). I rarely use it for buying, and have never sold.

  2. #12
    Senior Member catherine's Avatar
    Join Date
    Jan 2011
    Location
    Vermont
    Posts
    14,636
    I love PayPal. I keep a balance. My son pays his rent to me through PayPal, and I don't bother transferring it to my bank account. I keep it there and then if I want to buy something and I'm given a choice to pay via PP, I use that instead of a CC. So easy!! I'm not someone with a huge "security gland" as Dave Ramsey would call it, so I don't get hyperworried about the security of stored CCs. I like the convenience of just a couple of clicks to get through a transaction.
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
    www.silententry.wordpress.com

  3. #13
    Senior Member
    Join Date
    Sep 2020
    Posts
    390
    I use it for political donations, donations to Wikipedia, animal charities, etc. I've used it to send money to friends, and also to various on-line retailers. Paypal seems to keep good records, as well.

  4. #14
    Senior Member jp1's Avatar
    Join Date
    Dec 2010
    Location
    San Francisco
    Posts
    9,797
    For what it’s worth most, although definitely not all, but definitely the big guys like amazon, places that store your payment information use a process called tokenization. In a simplified nutshell what that means is that they don’t have your actual credit card info stored but instead have a random number stored that their payment processor uses to link back to your credit card. That random number is useless to anyone other than that specific merchant. If one is a frequent purchaser of stuff from a particular merchant it’s actually safer to have them store the card than it is to put it in new every time.

  5. #15
    Senior Member razz's Avatar
    Join Date
    Dec 2010
    Location
    Ontario, Canada
    Posts
    8,169
    Quote Originally Posted by jp1 View Post
    For what it’s worth most, although definitely not all, but definitely the big guys like amazon, places that store your payment information use a process called tokenization. In a simplified nutshell what that means is that they don’t have your actual credit card info stored but instead have a random number stored that their payment processor uses to link back to your credit card. That random number is useless to anyone other than that specific merchant. If one is a frequent purchaser of stuff from a particular merchant it’s actually safer to have them store the card than it is to put it in new every time.
    That is interesting to know. Thanks
    As Cicero said, “Gratitude is not only the greatest of virtues, but the parent of all the others.”

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •