Monday, November 13, 2017

PayPal Halts TIO After Finding Security Hole

San Jose-based PayPal said it has suspended operations at TIO, the bill payment processing and receivables management company it acquired in July, as a result of discovering "security vulnerabilities" on the platform, as well as unspecified issues with TIO's "data security program." PayPal did not say what financial impact of the vulnerability might have been on its customers, but said that, in light of the discovery it had completely suspended TIO's services. PayPal did not say when it expects to resume the services at TIO.