PayPal Articles

17-Year-Old finds major PayPal security flaw

  • 06/08/2014 at 23:39 by It's a Gadget Staff
  • Technology

PayPal LogoThree months after announcing a security flaw he has found in their system, a 17-year-old hobby researcher has decided to come forward due to a lack of response from PayPal.

Referred to as the Paypal Complete 2-Factor Authentication(2FA) Bypass Exploit, an eBay account could essentially be used to bypass the two-tier security system in place to keep others from accessing PayPal funds. It did not have to be the PP account associated with an eBay account to do so.

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PayPal has acquired payment startup Braintree

PayPal and BraintreePaypal has announced that they have acquired Braintree, a mobile payment startup, for $800 million. It is their first real bit of progress in nailing down the mobile pay market, an area they have so far failed to break into.

With PayPal being one of the most common online financial branches and offered by businesses in many countries, they have been able to secure their slot as top direct-payment service. But having to reenter credit card or account info, and sign in on a separate screen through a smartphone, has made them unpopular with the mobile crowd.

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PayPal getting ready to show their new Digital Wallet

PayPal Digital WalletEvery year, thousands of people make their way to Austin, TX to attend the very popular SXSW Festival. And this year, the festival brings lots of entertainment, news and more. Among the man companies that will be carrying out a demo is PayPal, which plans to give SXSW attendees a taste of the future digital wallet.

There is no doubt that PayPal is the king in its industry, and while others have attempted to compete, only a few have managed to stay afloat. Since it was founded in 1998 in California, PayPal didn’t carry out a complete redesign of its products until now. After all, their goal is to provide customers with the convenience of paying for their purchases online, which removes the hassle of having to carry paper money or even credit cards.

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