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In a move that is probably a direct result of all the recent media attention -- and reality -- of scams on eBay Inc.'s (NASDAQ:EBAY) PayPal division involving payments and transactions (and identity theft), the company said that it will soon be providing "key fobs" that will be required to login to one's PayPal account, in addition to usernames and passwords.These electronic security measures have codes that change every 30 seconds, so even a thief armed with a stolen username and password from a PayPal account (gleaned from a fake PayPal email) will have a virtual stop sign now that this third security measure will be in place.
Is eBay doing the right thing? Absolutely. The safeguarding of personal information and financial accounts for its customers should be a top priority. Although the fobs will be given to business PayPal customers first, regular PayPal customers will have access to the free devices soon as well. Are the days at an end to eBay and PayPal phishing scams? We will all have to see.
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Reader Comments (Page 1 of 1)
1-16-2007 @ 4:52PM
Rajesh said...
It will not work till the time that , EBAY and PAYPAL does not change their business policies i.e. suck the blood of the people
Only thing will help is a class action suit against EBAY and PAYPAL
1-16-2007 @ 7:13PM
online auctions said...
As much as we think that the Paypal fees are high, they still privide some sort of security to users. And, they do allow internet based businesses to get more sales, because there are still people that do not trust internet companies or just simply do not want to disclose their personal information on the web.
1-17-2007 @ 10:25AM
Tracy Riggs said...
What Pay-Pal is doing is GREAT. This will stop a thief right in their tracks. "Lots of losers out there that want to steal someone's account".
This will put a stop to it period! Most everyone I know has a pay-pal account, and if you don't, you should have. Makes ordering online a breeze. You are covered by Pay-Pal for your purchases.If a seller does not accept Pay-Pal, do not bid or buy. This way if someone is selling COUNTERFEIT merchandise, you can send it back and get a refund from the scheister that is selling counterfeit stuff. Pay-Pal is the way to go.
1-17-2007 @ 7:29PM
ROBERT said...
EBAY & PAY PAL ARE BOTH CROOKS, THEY BOTH CHARGE A BIG FEE FOR ANYTHING YOU SELL THAT IS OVER A CERTAIN AMOUNT FOR YOU GET DOUBLE HIT WITH CHARGES THAT THEY DON'T EVEN TELL YOU ABOUT, THEN TOP IT OFF IF A BUYER IS NOT SATISFIED WITH THE ITEM YOU SOLD THEN THEY PUT YOU THRU A LIVING HELL AND EBAYS INSURANCE DEPT ASK YOU A MILLION QUESTIONS LIKE YOU WERE SOME KIND OF CRIMINAL AND MAKE YOU FEEL LIKE 2 CENTS.
THERE POLICIES ARE UNFAIR AND UNJUST. THEY ALSO ALLOW PEOPLE TO BE RIPPED OFF BY THE SELLERS WHO MISLED BUYERS. THERE POLICIES STINK..........
1-17-2007 @ 7:27PM
ROBERT said...
EBAY & PAY PAL ARE BOTH CROOKS, THEY BOTH CHARGE A BIG FEE FOR ANYTHING YOU SELL THAT IS OVER A CERTAIN AMOUNT FOR YOU GET DOUBLE HIT WITH CHARGES THAT THEY DON'T EVEN TELL YOU ABOUT, THEN TOP IT OFF IF A BUYER IS NOT SATISFIED WITH THE ITEM YOU SOLD THEN THEY PUT YOU THRU A LIVING HELL AND EBAYS INSURANCE DEPT ASK YOU A MILLION QUESTIONS LIKE YOU WERE SOME KIND OF CRIMINAL AND MAKE YOU FEEL LIKE 2 CENTS.
THERE POLICIES ARE UNFAIR AND UNJUST. THEY ALSO ALLOW PEOPLE TO BE RIPPED OFF BY THE SELLERS WHO MISLED BUYERS. THERE POLICIES STINK..........