PayPal is a great service for enabling both businesses and consumers to buy and sell goods and services online without exposing private financial information to the other parties in a transaction. As a consumer, you can safely purchase goods and services online without exposing your credit or debit card information to be recorded and possibly misused. As a business, you can be paid for your goods or services using the Web or email without the need of storing your customer’s private financial information.

A big concern with PayPal is that anyone who knows the password of your PayPal account can access the financial services that you have authorized to be used with PayPal. For consumers, this means that unauthorized purchases or cash transfer may be performed from your credit cards and bank accounts. As a business, unauthorized PayPal access can be a source of fraudulent purchases. Password security is always the responsibility of the PayPal account holder; but now PayPal has a service to make the disclosure of your PayPal password an almost insignificant threat.

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