PayPal Mobile Trying to Prevent Hackers’ Attacks

16th October, 2009 by adina
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The greater and greater popularity of smartphones and usage of mobile banking and bill payments creates new problems regarding the security of the transactions. mobile banking is not yet very much affected by hacking but companies are trying to prevent such threats which could seriously impact on customers’ trust in such modern methods of payment.

PayPal is one of the most popular companies in this area. PayPal mobile threats are far to be such serious as PC ones, due to the poor number of operating systems available to customers – only fifteen, including Nokia’s Symbian, Google’s Android and Microsoft’s Windows Mobile – which makes relatively easy maintaining efficient security tools.

In fact, analysts acknowledge there is a continuously growing threat due to hackers trying to access bank accounts or other information by fraud and the trend is ascendant, following the growing number of users. In a few years only, criminal actions against mobile banking will undoubtedly increase and it will be then not only a problem of having the phone stolen or lost, but a problem of intercepting valuable data and having unlimited access to users’ banking accounts.

According to Andrew Nash, PayPal senior director of identity services, the company is thinking to security plans able to be efficient for the next four to five years and not only for the net six or twelve months. Otherwise, the costs for implementing a good security plan would could be useless, viewing the capabilities of criminal organizations tempting to fraud electronic banking.


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