What are the Safest Ways to Pay for Goods and Services Online?
Anybody reading this will have probably used a credit card or an e-wallet like PayPal to buy things online. This is because online shopping gives us way more convenience as well as access to a far greater range of products and services.
Recently published figures have suggested that a staggering 18.2% of all retail purchases are now made online in the UK. But what are the safest payment providers that you can use to buy goods and services in the online domain?
Reasons to consider using PayPal
Many people enjoy making PayPal payments simply because this payment provider is so easy and quick. You can often make PayPal payments simply by clicking a box that will take you to your PayPal account where you just have to enter in your email and password to authorise the payment.
As such, the majority of major online retailers will now accept PayPal payments, and even PayPal casinos are a thing nowadays as customers can use this e-wallet to make swift and secure deposits and withdrawals. This is great news as you won’t even have to give out your card details to carry out the transaction.
PayPal also offers you a certain amount of buyer protection that means that you could that you could get your money back should a product be wrongly described or there is an issue with the delivery. However, it’s worth noting that you won’t have the same amount of legal protection as when using a regular debit card or credit card.
Why card payments could be best
It’s a widely held belief that credit card payments offer you a great amount of customer protection. This is because the Consumer Credit Act covers credit card payments over £100. As a result, you’d be protected if you don’t actually receive the products or services you paid for.
While you might encounter some processing fees when making payments with a credit card, it’s worth noting that as the money doesn’t actually come out of your account, you’ll be given an extra level of protection should something go wrong with your transaction.
Debit cards might not offer you quite the same amount of protection as with credit cards as they aren’t subject to coverage in the Consumer Credit Act. But it’s worth noting that most major debit cards have a Chargeback scheme which means that the card company will aim to get your money back if there is a problem with the goods or services that you purchased.
Further steps to take to safely buy goods online
While payment providers will provide you with a certain amount of protection, ultimately it’s up to the individual to do all of the checks necessary to ensure that they are making safe purchases. Whether you’re planning your next holiday in the sun, or are just buying some clothes, then you’ll need to thoroughly research the retailer by checking out review sites such as TrustPilot.
You should also check to see that all of the relevant security features of the online retailer are in place. This can be something as simple as checking whether there is a padlock symbol next to the brand’s web address in your browser.
Other steps that you can take to boost the security of your payments is to only use the strongest passwords when creating your customer account. Plus it’s best to avoid public Wi-Fi when carrying out financial transactions as these are often much less secure than your own home networks. All of which should mean that you can now enjoy making safe and efficient payment for a variety of goods and services in the online domain.