September 2013

How Not to Sell Antiques Online

Another classic scenario illustrating how merchant payment processors can really take the fun out of making money online and turn a successful online business venture for an honest merchant into a disaster.  Pay fees to receive your money and don’t even get any real security or protection in return… Shared at http://www.paypalsucks.com/ In this case, a seller closes an eBay deal on two very expensive antique vases, with the winning bidder paying around $2000 for them via PayPal.  After finalizing the deal, the seller and buyer arrange that the vases will be picked up in person from the seller’s house: the buyer has positive feedback on his eBay account and the seller has no reason to be suspicious. The transaction goes smoothly until several days after the goods are handed over, when the antique seller is contacted by PayPal, who inform them that the money received for the antiques has been…

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Seller Protection

Yet another case of an honest seller being scammed through PayPal, with the fraud receiving the hard-earned money from PayPal without the seller getting a chance to fight their case. A jewellery seller in the US receives order for piece of jewellery costing more than $15,000. The seller takes a payment for half of the money and sends the item to the customer. At this point, the customer initiates a chargeback on the goods, claiming to their bank that the items are broken and not as described, despite the fact that the shipment was insured by the seller, and the item was made to the customer’s exact specification. The seller sends documentation to PayPal detailing their part of the deal, which was legitimately carried out by them in full. PayPal, however, not only charges the money from the seller’s account and gives it to the fraudulent buyer, but also freezes access to the…

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How PayPal Transformed And Then Ruined eBay

eBay’s purchase of PayPal was, in the first instance at least, a truly INSPIRED purchase. It really was. Here’s why: Consider this: In effect, eBay is simply a means for people to list items for sale and “agree a price” – the latter being the auctioning process.  The point is, once a price is agreed, the company is no different to any other which enables people to list items, for example, Craigslist. Now, on Craigslist, you cannot actually BUY. They take no responsibility for that, and indeed, there are pages and pages of warnings to potential Buyers to take precautions and not get scammed while transacting.  This is because Craigslist understand that the single most important and complex risk in the Buying and Selling process is “payment risk” and they just don’t want anything to do with this. But imagine the transformative effect that a listings website would have if…

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One Way To Avoid Being Scammed While Selling Online

When selling goods online it’s vital to be aware of certain risks, especially if the goods you are selling are high-value ones and therefore a high-risk venture when it comes to sending them off potentially to someone you’ve never met before. One thing to  be aware of is that if you’re planning to take payments through a merchant service provider, credit card company or PayPal, as a seller you are at significantly heightened state of risk when it comes to scams and exposure to  fraudulent buyers.  The problem many users of PayPal and other services continually come up against is that the buyer always seems to win in any kind of dispute or claim.   Why is this the case with credit card companies?  One reason is that it’s in their interest to keep the card-holding customer on side – they want to keep them transacting.  Why is this the case…

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