These days, many people use PayPal or credit cards to shop online and make payments. Both options support quick and easy transactions. But have you ever wondered which one is safer? Let's look at the unique features that PayPal and credit cards use to protect you.
How PayPal Keeps Your Money Safe
PayPal offers several different ways to pay. Its app lets you buy things in stores by holding your phone up to the machine. There's Venmo, which lots of people use to pay their friends or cover their part of a meal. If you need to send cash to another country, PayPal's Xoom app can handle that, too.
When you use PayPal, your bank and card numbers are hidden. That means the person or store you're paying only sees that the money came from PayPal. They use something called "end-to-end encryption." It's a fancy way of saying they put your information in a secret code so hackers can't grab it.
This is why most people who transact online use PayPal, especially on platforms such as online sportsbooks. When you fund your betting site account using PayPal, you are assured of end-to-end encryption. As such, you can transact safely when depositing at PayPal betting sites.
Additionally, you can turn on the "SecurityKey" feature for even more protection. When you do, PayPal will text a unique number to your phone each time you go to pay. You have to enter this number along with your password. This makes it super hard for anyone to sneak into your account.
If you use PayPal to buy something that turns out to be fake or not as described, they'll refund you. The same goes for an item you order, but it never shows up. If you notice charges you didn't make to your account, let PayPal know within 60 days. As long as you do, you won't be on the hook for those purchases.
The Scoop on Credit Card Security
Credit card companies are also constantly working to outsmart crooks. They use high-tech tools to watch for fishy purchases. If they credit card fraud, they'll put a hold on your card until they can check with you. By law, the most you can ever owe for charges you didn't make is $50.
One of the best safety features on newer cards is the chip. Instead of swiping your card, you stick the end of the chip into the payment machine. This sends your information along with a secret code that's hard for thieves to copy. It's way more secure than the old black magnetic stripe.
But even with all these protections, many card numbers sometimes get swiped. This usually happens when a store or website doesn't keep your information locked up tight like it should. Criminals can break in and make off with a large number of numbers in one go.
Staying Safe When Paying Online
Whether you're using PayPal or a card, you still need to watch out for scams. Don't shop on any website that doesn't have "https" and a little lock in the address bar up top. This means your payment is going through a secure line the bad guys can't tap into.
Avoid using public WiFi for shopping or banking, too. Wait until you're at home, or use a virtual private network (VPN) app that hides your activities. And don't let sites save your card number. Type it in each time instead. That way, if they get hacked, your card number won't be sitting there for the taking.
Another key is to keep your passwords fresh. Switch them up often and make them hard to guess. Pass on anything easy, like your birthday or your pet's name. And if you get an email or text with a link that seems off, delete it. Clicking could let crooks install sneaky spy apps on your phone or computer.
The Bottom Line on Online Payment Safety
PayPal and credit cards have solid protections to keep crooks away from your cash. The main difference is that if your card number gets stolen, you'll probably have to wait for a new one. With PayPal, you just change your password, and you're set.
Whichever way you pay, watch out for weird charges. Read your statements and check your accounts often. If you see something hinky, speak up quickly so you don't get stuck covering the bill. With caution, you can shop online and send money to your family without losing too much sleep over safety.