Buyer Protection: What Is It?
The payment processor called Paypal offers security for consumers in the form of a buyer protection policy. This policy covers purchasers who pay for something they don’t receive (or are provided with a defective service or product not as stated). It intends to provide buyers with peace of mind when shopping online. Paypal’s buyer protection policy is cited as the strongest in the industry.
Alternatively, Payoneer does not have a buyer protection policy, which means that buyers are not protected if they do not receive their purchase (or if it is not as described). This can be a risk for buyers, as they have no recourse if things go wrong. Paypal is the better choice for buyers looking for protection when shopping online…or so I thought!
Paypal is often seen as the go-to service for online payments, but that doesn’t mean it’s always the best option. Payoneer, as it turns out, offers better buyer protection than Paypal. That means if you’re the victim of a scam, you’re more likely to get your money back through Payoneer than Paypal.
I Was Scammed Twice: Once for $130, Then for $100
I had a lot of work to do in 2019, and I had to purchase some things to finish the job. I usually purchase things from Paypal, but my usual providers could not meet my needs, so I had to look elsewhere. There were a couple of instances where I ran into problems. One instance cost me $137.50 via Paypal, and another cost me $100 on Payoneer. Each of these problems occurred within a couple of days of each other.
I made a deal with someone and then paid them via Paypal. After I paid them, they ceased to reply to my messages. This was very frustrating, especially since I had already paid for what they were supposed to provide. I contacted Paypal and initiated a chargeback, but unfortunately, they could not help me recover my money. This was a disappointing experience.
I followed the steps to dispute a transaction with Paypal. I waited patiently for a response from the seller, but he didn’t get back to me. After a week, my case was passed to Paypal to review. Several days later, they emailed me saying they ruled in the seller’s favor.
In the course of this process, several automated email messages were sent to me from Paypal informing me that they would contact me if more details about my case were required. Although I had not provided excessive information when requesting a chargeback, I was confident they would ask for more clarification if anything was unclear.
I was angry that PayPal gave the money to the fraudster without hearing my side of the story. I called PayPal and requested they review my case again because I had more evidence. But PayPal refused, just blowing me off.
I was hesitant about using Payoneer since they don’t have a very integrated system to dispute or chargeback payments. However, I decided to take the risk and spoke to customer service via live chat. I explained my situation, and they were able to help me.
After the end of the chat, I received an email requesting details about the incident. I provided such details, they looked into the matter and, after four days, they reimbursed the money to my account.
During the investigation, the person involved in this transaction contacted me and apologized for not contacting me for a few days. He begged me to end the case, then claimed he would refund me or do the work I paid for. I agreed to let the case go in exchange for a refund. The situation was frustrating, but ultimately I was glad to have it resolved without further complications.
Initially, he was trying to reimburse me via Paypal and claimed that he had no funds in his Payoneer account. This raised some red flags for me. He said he would send me money through Paypal if I’d dropped the case with Payoneer. But I refused, because then later he could chargeback through Paypal, which leaves me dependent on Paypal to help me get my money (and as we saw above, there's no guarantees there).
In the end, Payoneer refunded me the money and I was happy.
Who Fared Better?
Payoneer came out on top here. I had to provide some information. A staff member looked at it and determined what to do. They got in touch with the other individual involved and asked for their opinion, and then they took care of the situation accordingly.
It’s possible that Paypal’s automated system selects who wins and loses based on the absence of any evidence. However, the company denies using such methods and claims that the cases are handled based on evidence.
Although people may feel secure when using Paypal due to the buyer protection they offer, it doesn’t come with guarantees. The high prices you pay Paypal for every transaction do not provide you with the security you need. It may be much more effective if Paypal changed gears and took a page out of Payoneer’s book.
Paypal is one of the most popular payment processors, but that doesn’t mean it’s the best. In fact, there are a number of payment processors out there that are more accommodating and charge lower fees. Payoneer, Cryptocurrencies, Transferwise, Perfectmoney, and Skrill are great alternatives to Paypal. So if you’re tired of Paypal’s monopolistic methods, consider using one of these other payment processors instead. You’ll probably be able to save money on fees and get better service overall.
