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 PayPal Popular Tool for Crooks Trying to Steal Your Money

 PayPal is an ever-growing tool used by many people to do business online. But along with honest users simply trying to buy and sell, criminals are also taking advantage of the service. With websites like eBay and Craigslist, buying and selling online has become a huge chunk of the market. Even other websites allow PayPal as a form of payment for a good or service. But not everyone is out to help you. Scammers are constantly claiming to send out money that you actually never receive. More importantly, they're phishing for your information to steal not just your money, but your identity as well.

Phishing emails are probably some of the most common scams you'll run into. The crooks are getting better at fooling people, so beware. You might receive an email claiming to be from PayPal, asking to verify your personal and bank account information. Remember, PayPal will never ask you for these things through an email. The email looks legitimate, but it's important to note that scammers are getting very good at faking emails - including the email address and websites they might have you visit.

More recently, the fake emails are sent with the goal of getting you to send the scammers money. When you're selling an item, a scammer will often offer to pay much more than the item is worth. They'll send you a certain amount of money, and then you have to send your item and wire the money back to them before it's released to you. Since people were catching on pretty quickly, the crooks started sending emails from fake PayPal accounts. The email, looking like a legitimate message from PayPal, would essentially state the same thing. You've receive your money, but it can't be released to your account until you've wired a big chunk of it back to the buyer. In reality, PayPal will never have you do something like this, and wiring money to anyone is a huge red flag that something is wrong.

Perhaps all of this information has come to you too late. You or someone you know has already been scammed, or you think your identity has been compromised. PayPal has a few ways for you to contact them and let them know your story. You can report a PayPal fraud and learn more about identity theft and how to report suspicious activity at PayPal's website ( http://www.paypal.com ).

How Do I Create a Recurring Payment Plan in PayPal

PayPal recurring payment plan allow users to bill customers a mutually agreed amount of money on fixed schedules. By this, online websites that sell products with monthly subscription fees can charge their customers automatically on fixed date after a week, a month, a quarter, or twice in a year. It is up to the user to create a recurring plan that suits business needs. In simple words, PayPal recurring plan is a process that allows periodic payment transactions for a fixed amount of money from online customers.

Things to Know

PayPal recurring account is only available for PayPal Business and Premiere accounts. When a user set up a recurring payment plan through a merchant account for a customer, PayPal creates a separate profile for each customer for recurring payments that include information like the amount of money, start date, frequency of payments and other details like tax and shipment cost. The start date must fall after the creation date as current PayPal recurring payment API cannot ask customers for old payments.

Before creating a recurring payment plan, it is good to learn about the terms and other conditions on PayPal website. The recurring payment plan also allows users to start an optional trial subscription period followed by a regular payment period. Users have an opportunity to set up a different payment cycle and payment amounts for trial period. Once satisfied, you can start a regular plan with details provided below.

Steps to Follow

Once you learn about the terms and other conditions associated with PayPal recurring payment plan, you can follow these simple steps to create one.

First, log in to your PayPal merchant account.

Go to Merchant Services > Key Features > Subscription & Recurring Payments.

Once you click the "Subscription & Recurring Payments" and follow the online directions to fill in the dialogue box.

Add Item Name and Subscription ID (For those who use Inventory management feature of PayPal).

You will create a button that can be customized according to your needs. These options include a choice between subscribe or buy now button, language of your preference for checkout window and button, choice for appearance of button and an option to add a drop down list that includes choices related to products or services.

PayPal also allows you to choose a currency for payment transactions.

Enter the amount that you want to bill your customer for each frequency.

Choose one of the options for Billing Cycle from the options like day, week, month and year. You also need to enter the number of billing cycles after which the recurring payment plan expires. (What is Billing Cycle? Billing cycle is when payment is made. The unit specified for billing period is day, week, month or year. The billing frequency is the number of recurring mentioned units. For example, if you choose "Week" for billing cycle and add billing frequency as 4, the payments will be made after every 4 weeks.)

PayPal also gives you an option to start a Trial Subscription period for your customer. Choose if you want to offer trial subscription period to your customers with different details like amount, billing cycle and billing period.

Go to Merchant Identifier and select plain text email address.

Users that are also using Inventory management feature of PayPal can also set up inventory track.

Additional Details

You can also mention if you want details like customer's address and contact details, add URLs for cancel & success pages.

Just Click on the "Create Button" and you are done.

Once you are done with the steps mentioned above, you will receive two sets of codes. One is a link to use in an email and other is for your webmaster. The code for your webmaster will create a button that you designed above on your website that will also set up a link between your website and PayPal.The email link is for marketing purpose that you can send to your customers.

By following the above mentioned process, you can now easily offer services and products with monthly and weekly subscriptions and PayPal will take care of your timely payments from customers.

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