Paypal has announced TIO Networks (TIO), a public trading company PayPal acquired in July 2017, has suspended operations to protect its customers.
It is due to the discovery of security vulnerabilities on the TIO platform and issues with TIO’s data security programme that does not follow PayPal’s security standards.
TIO customer support told express.co.uk: “We don’t know what’s going on. We have been receiving a lot of calls.”
TIO said in a statement: “While we apologise for any inconvenience this suspension of services may cause, the security of TIO’s systems and the protection of TIO’s customers are our highest priorities.
“We are working with the appropriate authorities to safeguard TIO customers.
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“The PayPal platform is not impacted by this situation in any way and PayPal’s customers’ data remains secure.
“Our investigation is ongoing. We will communicate with TIO customers and merchant partners directly as soon as we have more details. Customer updates will also be posted at www.tio.com.”
More to follow…