TIO Networks breach might have exposed 1.6M consumer records

TIO Networks, the bill payment platform acquired this summer by PayPal, has said that a security vulnerability could have exposed the personal information of approximately 1.6 million customers, according to multiple media reports.

TIO Networks suspended operations in November after PayPay discovered the data breach. The company said that it has found no proof that data was stolen, but has found enough evidence to treat the vulnerability as a data breach.

PayPal has notified consumers and billers about the vulnerability. 

PayPal acquired TIO Networks in July for $238 million in its efforts to expand services to financially underserved consumers.

Topics: Security, Transaction Processing, Trends / Statistics

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