For those of you shopping online regularly, PayPal should not be something unheard of. Yet, there are many out there who can do with some valuable advice on the workings and advantages of PayPal and how it helps to protect the online buyer. PayPal is essentially a facility that allows monetary transactions online when you register on their site. Today, you can buy almost anything on the Internet, and your utmost concern is always to make sure your money gets transferred in a secure manner. PayPal has grown to be the safest and therefore naturally the most popular method for money transfers through e-mail. To use this trusted medium, you need to register on their official website with a legitimate e-mail account after which you can get free access to thousands of online stores spread across nearly 90 markets and 24 currencies!

PayPal buyer protection allows you to recover payments for all eligible items on websites that endorse PayPal payment methods. With this protection, you can now even get back your money spent on goods that you have not actually received but have paid for. This protection is slated to be widened in early November 2010, when it will cover the total value of all eligible purchases that have been made using PayPal on e-commerce sites like eBay.

Features of PayPal Buyer Protection:

The amount of protection offered may differ from one seller to another.
Here, fraud refers only to those situations where there has been a failure to deliver items purchased or where items have been found to be distinctly different from those ordered.
You will notice that some products on eBay have PayPal icons, while others do not. Only when a particular listing displays a PayPal icon will you be entitled to PayPal buyer protection; however, there is still some basic coverage related to all transactions, provided you have been defrauded.
Among the important rules you need to remember when making PayPal claims is that you can put forward only a single claim for one PayPal payment.
This claim must be made within a time period of 45 days from the date of your PayPal payment when the item has been bought from eBay and has been paid for through a PayPal account.
You communicated with the seller by using the e-mail provided in the sellers listing.
The sellers product listings cover only tangible items and do not include services.
You must also meet all criteria stated in the PayPal buyer protection clauses mentioned in the PayPal User Agreement.
During claims proceedings, be prepared to divulge all details and documents to the PayPal buyer protection team.
If you happen to be a seller, then you can offer such protection to buyers only if you have a minimum of 50 eBay feedbacks, of which at least 98% have to be positive. You must have a Canadian or American PayPal account with a good record and a verified business account for accepting payments. Most importantly, as a seller, you must have made PayPal your payment option.

When there is some trouble with monetary transactions on eBay, the best bet is to get in touch directly with the seller first and then to turn to PayPal buyer protection schemes if that does not work. This plan is meant to cover all eligible transactions in totality, inclusive of shipping costs. Those exempted from this coverage are vehicles and real estate. The seller has the option to respond within a period of 7 days, failing which the buyer may make a claim within a 20-day deadline. When PayPal rules in the buyers favour, reimbursement must be made promptly. The refund made is immediately credited to your PayPal account.

For many years, the Internet has been the marketplace for millions of buyers across the world, but before sites like eBay or Amazon arrived, money transactions online were believed to be very risky. Today, however, things have drastically changed, and buying has never been this easy. More and more focus is being given to dealing with issues existing in online marketing. The PayPal Buyer Protection program is one such revolutionary development that began as an offshoot of eBay but today has evolved into the Internet standard for global consumer transactions. It is fast growing into the perfect medium for vendors to send and receive money. The greatest advantage in its favour is that all transactions made through it are held as safe and secure, and managing or operating such an account is very easy. The best part is that money is charged only when you receive payments and not when you send money. So, go ahead and register for a PayPal account, and give yourself complete peace of mind when you shop online!