PayPal World launches to let users pay globally with their domestic wallets
PayPal has launched PayPal World, a new global platform designed to connect some of the world’s largest digital wallets and payment systems, starting with full interoperability between PayPal and Venmo.
The platform is set to roll out this fall and includes launch partners such as Mercado Pago, UPI (via NPCI International), Tenpay Global, PayPal, and Venmo.
Clever PayPal attack dodges phishing checks to take over accounts
Research by Fortinet has uncovered what it terms a 'phish-free' PayPal phishing attack that seeks to trick the unwary into giving up control of their account.
It starts with an email request for payment that appears to come from a valid email address. Click the link and you're taken to a PayPal login page showing a request for payment. This is where it gets clever because if you do login your account gets linked to the address the email was sent to -- not the one you received it on.
Financial services is the most impersonated industry in phishing attacks
Threat protection company Vade has released its latest Phishers' Favorites report for 2022 which finds that financial services is the most impersonated industry, accounting for 34 percent of phishing pages as attackers continue to follow the money.
There are also seven finance brands in the top 20, with PayPal, MTB, Crédit Agricole, and La Banaque Postale all securing a spot in the top 10.
PayPal gets stuffed by large-scale credential attack
Yesterday PayPal began sending out data breach notifications to thousands of its users who have had their accounts accessed via credential stuffing attacks which exposed some personal data.
BleepingComputer reports that almost 35,000 accounts were compromised in the attack which took place between December 6 and December 8, 2022.
PayPal backs down over Free Speech Union account
The latest development in the ongoing 'PayPal-gate' story is that the fintech giant has now reversed its decision and apologized for closing the Free Speech Union's account.
The FSU tweeted news of the decision yesterday evening following several days of people closing down their accounts and the stirring up of a political storm with questions asked in the UK parliament.
PayPal faces UK backlash over account closures
As we reported last week, PayPal has cancelled the accounts of a number of campaigning organizations in the UK, citing its Acceptable Use Policy but without providing a specific reason.
On Friday The Times reported that the fintech giant was poised to back down in the case of parents' group UsForThem, which campaigned for schools to be kept open during the pandemic.
PayPal cancels customers it doesn't like
In the past 48 hours or so PayPal’s UK arm has canceled the accounts of a number of campaigning organizations including the Free Speech Union, legal campaigners Law or Fiction, parents group UsForThem, and even the personal account of the FSU's founder journalist Toby Young.
The only reason the company has given for these actions is to cite its Acceptable Use Policy. And, as Young wrote in his column in The Spectator, PayPal also decided it would hang onto his money for up to 180 days while deciding whether to extract 'damages' before refunding it.
Microsoft, Facebook and PayPal are the most phished brands
During 2020 Microsoft maintained its position as the brand most often found in phishing emails, followed by Facebook and PayPal.
Email defense specialist Vade Secure has released its 2020 Phishers' Favorites report which also shows that cloud services overtook financial services to become the most impersonated industry, whilst cynical hackers have been quick to exploit the COVID-19 pandemic.
PayPal tops the list of most phished brands
Predictive email defense company Vade Secure has released a new report ranking the top 25 brands most impersonated in phishing attacks.
The report covering the final quarter of 2019 shows PayPal is the top brand impersonated by cybercriminals for the second quarter in a row, with Facebook taking the number two spot and Microsoft coming in third.
PayPal buys deal-finding service Honey for $4 billion
PayPal has agreed to pay $4 billion to acquire Honey Science Corporation, which is best-known for its reward and deal-finding service and browser add-on.
The acquisition still needs the usual regulatory approval, but the transaction is expected to be completed in the first quarter of 2020. The company says that the purchase "will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants".
PayPal bans Infowars for spreading hate speech
Alex Jones' Infowars has found itself cut off from yet another platform. Having been booted from social media sites including Twitter and Facebook, as well as YouTube and the App Store, PayPal has now given it the elbow.
The online payment service has taken exception to Infowars' promotion of "hate" and "discriminatory intolerance" and has hit Jones' cash cow where it hurts -- in the wallet. He has been given ten days to find a new payment processing service.
Microsoft overtakes Facebook as the #1 spoofed brand
Phisherfolk love to try to trick people into thinking they are a major brand in order to get them to reveal passwords or personal data.
New research from Vade Secure reveals that in the second quarter of this year Microsoft has supplanted Facebook as the most spoofed brand. The social network drops two places to third, behind perennial phishing favorite PayPal.
PayPal now offers payments in Gmail, Google Pay, YouTube and more
PayPal has extended its partnership with Google so it now offers more payment options to its customers.
By integrating more deeply with Google, PayPal now allow you to seamlessly make payments in the likes of Gmail, YouTube, Google Pay and Google Store. As there is support for any service that makes use of Google Pay, users will also be able to make peer-to-peer payments.
PayPal buys Swedish fintech company iZettle
PayPal has announced that it is to buy the mobile payment company iZettle. The announcement came as something of a surprise, as less than two weeks ago iZettle had said that it planned to go public.
iZettle is a Swedish fintech company whose mobile card readers have proved popular with small businesses, as has its ecommerce platform. The $2.2 billion purchase is PayPal's biggest acquisition to date.
PayPal is ready to get into traditional banking with debit cards, loans and more
PayPal is looking to expand its services and gain a foothold in more traditional banking services, according to a report from the Wall Street Journal.
The company has been testing a number of offerings in the US over the last few months, including debit cards, ATM cards, and services such as check depositing via photo. PayPal has teamed up with small banks to offer different services as it tries to lure in more business.
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