Wow this headline is quite striking. I wonder what happened all of a sudden for their fraud checks to fail. This is exactly the kind of issues where we could use insight from some insider. I am somehow not super optimistic that PayPal will publicly respond to it
A failure of security systems at PayPal is causing concern for German banks
151–160 of 222 posts
Re: A failure of security systems at PayPal is causing concern for German banks
#152Earlier quoted context omitted.
Which is the same as many if not most of the other sites we regularly link to on HN. You just aren't told about it.
If I have to accept it I think that's even worse than doing typical tracking behind my back. Also requiring acceptance from EU users would be a GDPR violation, I think? But it didn't ask me at all so I can't evaluate it well.
I think it is great that they are forced to show whats going one. Otherwise we wouldnt even discuss, just no one would care.
Re: A failure of security systems at PayPal is causing concern for German banks
#153Earlier quoted context omitted.
Which is the same as many if not most of the other sites we regularly link to on HN. You just aren't told about it.
If I have to accept it I think that's even worse than doing typical tracking behind my back. Also requiring acceptance from EU users would be a GDPR violation, I think? But it didn't ask me at all so I can't evaluate it well.
You are not required to accept the tracking. You can pay to remove tracking with their "Pur-Abo".
Re: A failure of security systems at PayPal is causing concern for German banks
#154Earlier quoted context omitted.
PayPal is the most important online payment service in the German market, with nearly 30% of online purchases made using the platform. The sheer volume of PayPal and direct debit transactions in Germany magnified the impact of the outage compared to other markets. With millions of potentially fraudulent debit requests appearing simultaneously, German banks chose to freeze all incoming PayPal direct debit payments. Th…
Also protect themselves (or rather, PayPal's bank). These were almost certainly SEPA debits. Consumers could reverse unauthorized transactions (think "chargeback" but on steroids - customer says to revert, it gets reverted, no discussion) and their bank would then have to try to get the money from PayPal's bank, which would then have to get it back from PayPal.
I think the bank of the consumer is also completely automatically getting the money back. The risk is on the initiator if the payment (=PayPal).
Re: A failure of security systems at PayPal is causing concern for German banks
#155Earlier quoted context omitted.
Care to name those banks?
One prominent example is DKB (easily in the top 10 consumer banks by size)
Also a bank that thought it was a great idea to block all rooted Android users with a minor update to their app. Which is required to use their website. Fuck DKB.
Re: A failure of security systems at PayPal is causing concern for German banks
#156Earlier quoted context omitted.
Better link: https://www.heise.de/en/news/Paypal-German-banks-apparently-...
Maybe it’s a better link, but I can only read the content if I accept their sharing my data with 180 partners.
Oh, valid point. I actually hate heise.de's approach to hard-require consent to ad-tracking (or payment). As my university has a subscription for heise.de, I was not shown the consent popup and forgot about that. Sorry.
Re: A failure of security systems at PayPal is causing concern for German banks
#157Earlier quoted context omitted.
Yes. Im European. Everytime I'm out in a group and someone pays for everyone, they always ask for money via paypal, and I'm always the only one who doesn't have an account.
Crazy Venmo and Cashapp are all anyone in the USA uses for passing money to each other.
To be fair, Venmo is owned by PayPal...
Re: A failure of security systems at PayPal is causing concern for German banks
#158Re: A failure of security systems at PayPal is causing concern for German banks
#159German, well West European, banks are slow in creating a competitor to Paypal, called Wero. https://en.wikipedia.org/wiki/Wero_(payment) I'm not implying they block Paypal because of that. It's good to have more competition and I wished my bank would take part.
Its alread built into my Banking app (Sparkasse). So if your Bank is a partner it takes like 2 minutes to setup.
Re: A failure of security systems at PayPal is causing concern for German banks
#160German, well West European, banks are slow in creating a competitor to Paypal, called Wero. https://en.wikipedia.org/wiki/Wero_(payment) I'm not implying they block Paypal because of that. It's good to have more competition and I wished my bank would take part.
The existing giro system is the real Paypal competitor. Most Europeans had access to Paypal-style money transfers before they had email. Merchants probably want to rely on another party to maintain their integration, but there is no real need for another centralized service similar to Paypal. (The U.S. really is an outlier among developed nations in that its giro system is not widely used, and many residents would no…
Wero is actually built to sunset Giro in the EU. Its built on top of Giro as to leverage the well working network but gives more convenience.