The more time goes by, the more online shopping platforms take a big step ahead in the tech world, and in the e-commerce world. In today's world, there are thousands of e-commerce websites to purchase goods and or products easily from the comfort of your home.
Some of the very popular ones are; Etsy, Amazon, Walmart, Shein, AliExpress, and many others. But taking more dip on Etsy today, Etsy has become a very big competitor in the online shopping domain.
Etsy has become a popular online marketplace for handmade, vintage, and craft items, allowing independent artists and small businesses to sell their products directly to consumers.
As with any e-commerce platform, one of the primary concerns for buyers or consumers, is the safety and security of paying on the platform. And many people have different ways of payment, including using their credit or debit cards; using P2P platforms like Paypal, Zelle, Cash App; and many other payment methods on the site.
Well, if you are one of the multitudes concerned with the use or paying with your Credit/debit card, then this article is for you. We will explore the measures Etsy has put in place to protect its users' financial information and discuss the overall safety of using payment cards on the Etsy website.
Table of Contents
Is Etsy Good for Credit/Debit Card Payments?
Understanding Etsy
Etsy is an American e-commerce company with an emphasis on the selling of handmade or vintage items and craft supplies. These items fall under a wide range of categories, including jewelry, bags, clothing, home décor, religious items and furniture, toys, art, as well as craft supplies and tools.
Selling on Etsy
Creating a shop to sell on Etsy requires creating and posting at least one listing in the shop, which costs $0.20 for each posting. Each listing will remain on the shop's page for a maximum of 4 months, or until someone buys the product.
The prices of products are set by the shop owner, but Etsy claims 6.5% of the final sale price of the listing and 6.5% of the postal fee.
Buying on Etsy
On the Etsy homepage, potential buyers can type a "product description" into the search bar, or they can "browse" through a list of options to get which one to buy.
When a buyer views a product, they can choose to view the positive feedback of each seller to determine the reliability of the shop. Once a buyer finds a product they would like to buy, they click "Add to Cart", and that product is added to their virtual "Shopping Cart". The buyer may then either continue shopping or purchase the selected item.
Etsy's Payment Processing and Security Measures
Etsy normally accepts third-party payment platforms, such as PayPal and Stripe, to handle all financial transactions as build-in payment methods on the platform.
These payment processors employ industry-standard encryption and security protocols to safeguard customer data. When a buyer makes a purchase on Etsy, their payment information is directly transmitted to the payment processor, bypassing Etsy's servers and reducing the risk of data breaches on the main Etsy platform.
And what is good about these payment processors are that, they have all the necessary build-in security measures to avoid any forms of scams. For example if you make a payment on Paypal, you can apply so that the money be held up till your good or product arrives at your location. Immediately you confirm, then the funds sent will be accessible by the seller.
Etsy also implements its own security measures to further protect its users. This includes:
- SSL/TLS Encryption: Etsy uses Secure Sockets Layer (SSL) and Transport Layer Security (TLS) encryption to ensure that all communication between the buyer's browser and Etsy's servers is secure and protected from eavesdropping. This avoids scammers or hackers from intervening in transactions.
- Fraud Prevention: Etsy has fraud detection systems in place to identify and flag suspicious activity, such as unusual purchasing patterns or attempts to use stolen payment information. And once a user has been reported, then they will be dismissed or eliminated from the platform with immediate effects.
- Buyer Protection: Etsy offers a buyer protection program that provides a refund or replacement for eligible purchases if the item is not received or is significantly different from the description. But this works not in all cases as before the refund is made, there are a series of questioning and investigations to be sure it is not a fraud trying to take some money from them.
- Secure Account Access: Etsy requires users to create strong, unique passwords and supports two-factor authentication to prevent unauthorized access to accounts. And if you put a weak password, then the platform will not accept the password. Well, 2FA authentication is not obligatory, but it is very good for your security in transactions.
Risks and Considerations During Payments on Etsy
While Etsy has taken significant steps to ensure the safety of its platform, there are still some risks and considerations that buyers should be aware of:
- Third-Party Seller Risk: Etsy is a marketplace platform, which means that individual sellers are responsible for the security of their own websites and payment processing. Although Etsy vets its sellers, there is still a risk of encountering a seller who may not have proper security measures in place, potentially leading to data breaches or fraud.
- Phishing and Scams: As with any online platform, Etsy users may be targeted by phishing scams or other attempts to steal their personal and financial information. Buyers should be vigilant and only make purchases through official Etsy channels.
- Chargebacks and Disputes: In the event of a dispute or chargeback, Etsy's buyer protection program may not always be able to provide a full refund, especially if the issue is related to the quality or delivery of the product.
How to Verify Etsy Seller Products
Here are some ways Etsy buyers can verify the legitimacy of a seller before making a purchase:
1. Review the Seller's Profile and Reviews:
Look at the seller's profile page to get a sense of their history, shop policies, and the customer feedback they receive. Carefully read through the seller's reviews, paying attention to both positive and negative comments. Look for patterns or common themes that may indicate the reliability and quality of the seller.
Check the seller's average review rating and number of reviews. A high number of positive reviews is a good sign of a legitimate and trustworthy seller.
2. Evaluate the Seller's Shop Information:
Ensure the seller's shop has a complete "About" section that provides details about the business, the owner, and the products(The location of the business is also a boost). Look for a clear and detailed shop policies section that outlines the seller's return, refund, and shipping procedures.
Verify the seller's location and see if it matches the country or region you would expect based on the products being sold. And if it falls in a country or state that has been marked as highly fraudulent, then you should rethink before taking the next step.
3. Check the Product Descriptions and Photos:
Closely examine the product listings to ensure the descriptions, measurements, and materials are accurate and detailed. Look for high-quality, professional-looking product photos that showcase the item from multiple angles.
Be wary of listings with stock photos or generic descriptions, as these may indicate a less reliable seller. Fraudsters download pictures, edit them and then use them on these platforms, so be careful while reviewing the type of photos too.
4. Contact the Seller:
If you have any specific questions or concerns, reach out to the seller through the Etsy messaging system and not any other way. A responsive and helpful seller who provides clear and transparent communication is a good sign of legitimacy.
Fraudsters will never want to get in touch with the customer, and even if they do get in contact, it will be a very short discussion.
5. Search for the Seller Outside of Etsy:
Try searching for the seller's name or their shop name on Google or other search engines to see if you can find any additional information about their business or online presence. A seller with a name on Google, and that does not have negative reviews, then you can consider going for that one.
Look for the seller's own website, social media profiles, or mentions in other online marketplaces or publications, which can help validate their legitimacy.
Note That: Some Fraud Sellers have partnerships, and what they do is that, they are selling a good, then look for about 4-10 of their friends or partners, to give them positive reviews. Or, they can create multiple accounts, and then use these account to give themselves reviews. Which means that if you see a good or a product with just about 3 or very few reviews, then you should checkout thoroughly the other options before engaging in any form of payments.
By taking the time to thoroughly research and verify the seller's credibility, Etsy buyers can help ensure a safe and positive purchasing experience.
Keep In Mind:
Etsy is an online marketplace, and it will always happen that frauds take the winning part of the story. But you should consider all of the steps above to keep yourself safe from them fraudsters.
And even if you are not the victim, someone else could surely be, so help your friends and family members to be safe while making payments on Etsy.
Conclusion on Etsy and Bank Cards Legitimacy
Overall, Etsy has implemented or brought in robust security measures to protect its users' payment information and transactions on their platform.
By utilizing reputable third-party payment processors like PayPal, or Stripe and implementing its own security protocols, Etsy has taken significant steps to ensure the safety of its platform from several frauds.
However, as with any online marketplace, there are still some inherent risks that buyers should be aware of and take steps to mitigate. By exercising caution, being vigilant, and taking advantage of Etsy's buyer protection program, users can safely and confidently make purchases on the platform.