Online scams and consumer guarantee rights are bugbears the watchdog will be tackling this year. The consumer watchdog, Australian Competition and Consumer Commission, now receives around 160,000 consumer complaints annually.
"We welcome the ACCC's increased focus on protecting consumers in the digital age," says Jeff Clementz, managing director for PayPal Australia.
The digital economy, has caused "a number of consumer protection challenges" that industry and government need to address to create a safe digital environment for consumers and businesses, he said.
Phishing and spoof emails are a common issue facing business in the online marketplace, says PayPal, which is owned by ecomm giant eBay. 'Scammers' will attempt to replicate the identity of service providers in an effort to attract personal information.
The payment giant told ChannelNews it is tackling online scams via new technology solutions, carrying out investigations, and consumer education.
"Consumer education is key in helping address scams," says Clementz, and says PayPal, is "committed" to protecting its 5.5 million Australian account holders.
"We're thrilled that ACCC is taking the next steps and exploring how they can proactively reach out to victims to stop money being sent to scammers."
The company has also expanded Seller Protection to merchants that use PayPal to process transactions for tangible, big box items.
"We will be continuing to collaborate with organisations such as the ACCC and the Australian Government to help address consumer protection challenges, ensuring Australians are adequately protected to enjoy the choice and convenience afforded by global online and mobile commerce."
Any PayPal customer that feels they have received correspondence that is suspicious can contact customer support or email firstname.lastname@example.org to verify the legitimacy of the correspondence. Additionally, customers should never click on links in emails and log in to their PayPal account to check on the status of transactions.