PayPal upgrades security features, protects eBay sellers

More security features have been launched by PayPal to protect eBay sellers, especially in the Philippines and the Asia-Pacific region.

In the report at the ABS-CBN News, Mario Shiliashki, PayPal South East Asia and India general Manager said that Asia Pacific is their PayPal’s fastest growing region, with 12 million accounts as of this year.

The new protection system, according to Shiliashki will protect eBay sellers from potential scammers who make unauthorized PayPal payments by using somebody else’s credit card, bank account or PayPal account.

“When this happens, PayPal places a hold on the funds until it determines if the funds are unauthorized. If the payment is unauthorized, the funds are returned to the legitimate buyer’s account. As part of PayPal’s seller protection launch, eBay sellers are now protected against unauthorized payments when they provide shipping documentation,” he said.

Shiliashki said PayPal is doing everything it can to fight credit fraud. It conducts 24/7 transaction monitoring and employs sophisticated anti-fraud risk models, a stringent verification process and an experiences team of over 2,000 anti-fraud experts.

He boasts of PayPal maintaining a loss rate of 0.32 percent in the first quarter of this year due to fraud.

The company is also active on educating buyers and sellers on how to stay safe online, by providing them resources and information on how to reduce fraud and ways to spot phishing email.