Another tip in a series provided by the Offices of Information Security, Information Systems & Computing and Audit, Compliance & Privacy

The number of online payment transactions have increased exponentially in recent years, from online shopping to sending money to friends and others. Do not let payment mistakes cost you money.

When purchasing something online from a business, ensure you understand the payment options available. Often, using a credit card offers more buyer protection than a debit card in case there are problems with the transaction. If you do not feel comfortable using your credit card number, check and see if your credit card issuer offers “virtual” card numbers that can be used for specific transactions without exposing your actual credit card number. Using payment services like PayPal may be an option, but ensure you are protected if you use them.

Sending payments to individuals for personal or business reasons can also be complicated.

If you are sending money to an individual, ensure you have their payment information correct. Confirm any usernames or phone numbers to ensure you are sending money to the right person. Transactions using payment platforms like Venmo and CashApp are often hard or impossible to reverse, so ensure you have the correct recipient.

When sending money to a private seller for a purchase, many payment platforms have options for “Friends and Family” as well as “Goods and Services.”

Use “Goods and Services” because that offers some protection to you as a buyer. If you use “Friends and Family” with a seller you do not know, it does not provide you with any purchase protection if there is a problem with the transaction.

If you are purchasing from a private seller via a buyer-seller platform like Facebook Marketplace or eBay, make sure you understand how its payment system works. It is a bad idea to go off the platform for unsupported payment methods, so follow the stated guidance.

For additional tips, see the One Step Ahead link on the Information Security website: https://www.isc.upenn.edu/security/news-alerts#One-Step-Ahead