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Paypal buy online fraud security specialist

Paypal, the online payment specialist purchased by Ebay, has grabbed Israel-based Fraud Sciences.

The firm is specialised in detecting online fraud, which Paypal is trying to curb and comes as Ebay is trying to push Paypal as the only payment method for some Ebay transactions.

Fraud Sciences’ risk tools and analytics are expected to enhance eBay and PayPal’s proprietary fraud management systems and accelerate the development of next generation fraud detection tools.

Paypal will be paying $160 million for a company and has not announced if it is going to keep its relationship with Fraud Sciences' existing customers.

Fraud Science technology allows its customer to distinguish between dodgy and real transactions which will improve Paypal's antifraud defences substantially.

The prominence of Paypal has made it one of the most popular phishing and scamming targets online, especially as it is Ebay’s preferred payment method.

PCWorld motions that Paypal has also used a number of schemes to defeat criminals like a keychain that generates password which expires within 30 seconds.

The online payment service has also encouraged the big three email providers to shore up their defences in order to reduce the deluge of Paypal-related scam letters.

Désiré Athow
Contributor

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at ITProPortal.com where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.