That's not enough, the vendor needs to verify all the details that paypal sends back are correct.
Otherwise you can change the price and paypal will process your new price, then paypal returns a "yup, they paid" message back to the vendor.
If the vendor only checks they paid and doesn't verify all the other details against the basket you can adjust the price down.
I know this because I actually did this at one of my previous companies, we used to sell SMS bundles for use in our POS (point of sale) product. To demonstrate this vulnerability I lowered the price to a penny and bought our biggest bundle.
Because our test system had the payment side mocked* I had to use the live site.
What I hadn't counted on was the fact that our CEO was CC'd in whenever someone bought a bundle. Thankfully the company wasn't too large, so my boss was able to ask me about it and directly feed back what had happened.
* Technically "just not hooked up" rather than mocked.