Data breach: PayPal says personal data may be compromised for 1.6 million users!

PayPal Holdings Inc. said Friday that personally identifiable information for roughly 1.6 million users has potentially been compromised at a company it acquired earlier this year.

Data Breach

Last month, the payments firm suspended operations, pending a security review, of its TIO Networks unit. That company makes digital bill-payment tools for utilities and other firms and also operates a network of kiosks in physical retail stores.

“PayPal Holdings, Inc. (Nasdaq: PYPL) today announced an update on the suspension of operations of TIO Networks (TIO), a publicly traded payment processor PayPal acquired in July 2017. A review of TIO’s network has identified a potential compromise of personally identifiable information for approximately 1.6 million customers.” reads the press release.

At the time of the PayPal announcement, TIO served 14 million consumer accounts and 10,000 billers through a network of retail locations across the U.S. PayPal hasn’t integrated TIO with its platform, so PayPal users aren’t affected by the security vulnerabilities at TIO.

PayPal will offer affected TIO consumers free credit-monitoring services through Experian Plc.

Source

  • PayPal-owned company TIO Networks data breach affects 1.6 million customers (Security Affairs)
  • BRIEF-PayPal announces ‍suspension of services by TIO Networks (Reuters)

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