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| FAQs
: Is it safe to shop online? |
The safety of online shopping is determined by
several factors:
- Honesty. Any merchant, online
or offline, could steal your credit card and use
it to buy things. Know the reputation of the company
you are dealing with. A google search for the
company may turn up horror stories -- or good
experiences.
- Connection security. Make sure
you see the "lock" icon in the lower left or lower
right corner of your web browser, OUTSIDE the
web page itself. This indicates that the connection
itself is encrypted.
- Data center security. Your
credit card might or might not be kept encrypted
and/or promptly deleted after use on the merchant's
computer systems. Again, know the reputation of
the company you are dealing with.
Fortunately, there are several tools you can use
to protect yourself:
- Limits on consumer liability.
In the United States, most credit cards carry
a $50 maximum on your responsibility for fraud,
as long as you report it as soon as you discover
it. This makes credit card shopping reasonably
safe. READ the terms and conditions of YOUR
card to be sure of what YOUR liability limit
may be.
- Secure sites. As mentioned
above, the "lock" icon means that it is nearly
impossible for your credit card number to be
stolen "in transit" across the Internet.
- Third-party payment companies.
Companies like PayPal provide a way to purchase
something by credit card without actually giving
your credit card number to the merchant. Instead,
PayPal handles the finances, and gives the money
to the merchant after collecting a small fee.
As a large financial services company, PayPal
is strongly motivated to keep your information
secure and avoid or quickly correct any security
problems that do occur. PayPal is probably your
best option for paying individuals and small
companies without an established reputation.
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