Double Check Before Installing this Fake PayPal App sent via Email

A Fake PayPal App is being sent to Android users in Germany

German Android users are tricked by a well -drafted and convincing email which pretends to be an official email from PayPal app. The email requests the recipient to download a fake PayPal app update. The email, coming from Vietnam, Ukraine, Russia and India, was traced by our researchers. The downloading of the update leads to a Malware which requires Device Administrator privileges and some permissions like Change screen-lock password, lock the screen etc. The most surprising fact here is despite not granting Administrator privilege, the Malware was found to be running in the background, which makes it easy to track phone activity, i.e. track which app is running. The unique feature of this Banking Trojan is that it detects the legitimate PayPal app and puts up a fake UI on top of the real one once the app starts running. It effectively hijacks the PayPal session of the victim and steals his/her credentials.

The installed app uses Paypal icon. No Wonder.

(According to a recent eScan research)

5 Tips to safeguard yourself from Malware on Google Play:

1. Use a trustworthy antivirus on your Android phone and update it regularly.
2. Always download apps only from their official website or Google Play Store, after checking or verifying.
3. Download applications of a reliable app developer. In addition to it, check the user ratings, reviews of the app.
4. It is always a good practice to read the permissions of the app, which is going to be installed for security.
5. Whenever Something arrives via email make sure who the sender is. For instance if PayPal will send you an email, the email address will surely have paypal.com in it. Double check the spelling and the TLD (.com, .biz etc.). PayPal uses .com

Open emails only if you are positive about the source.

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Android users , Being Informed Is Being Safe , Fake App , Malicious app , PayPal

Double Check Before Installing this Fake PayPal App sent via Email

Anil Singh Wednesday, October 7, 2015

PayPal launches Chip and PIN mobile payment service in Europe

PayPal, largest player in the online payments business, yesterday launched a European version of its 'PayPal Here' mobile payments service for small merchants (Paypal Here was launched last year, in the United States and several other countries, including Japan and Australia). With the launch the online payments division of eBay Inc (EBay bought Paypal in 2010) heightens competition with rivals, including Square (by Twitter co-founder Jack Dorsey). Notably, Dorsey's Square has proved to be tough competitor for Paypal; as Square attracted thousands of small merchants in recent years by offering a free card reader that cane be lined to smartphones and handles payments for a flat 2.75 percent fee.

New Device unveiled: PayPal has unveiled a new device, about the size of a smartphone, that allows small merchants to accept credit and debit cards under a more-stringent and complex system in Europe known as Chip and PIN.

The gadget connects to a new PayPal app that merchants can run on Apple iPhones and Android-based smartphones.

Launch: PayPal will launch the service in the United Kingdom this summer, and in other European countries later.

Price: PayPal will charge (nominal Fee) merchants for the European PayPal Here device. Nothing is disclosed about the fee. But to Paypal's advantage, Square is still absent in Europe (Square Service is available in US and Canada, where Chip and PIN is not mandatory for Small merchants). ---------

Chip and PIN , mobile payments , PayPal , Paypal Here

PayPal launches Chip and PIN mobile payment service in Europe

Anil Singh Friday, February 22, 2013

Square renames revamps Payer app, and launches its Android version

Square, the company co-founded by Twitter inventor Jack Dorsey, has just placed itself in a position to better compete with rival PayPal over consumers and merchants in the multibillion-dollar mobile payments business.

Square has renamed its Card Case payer application — now will be called ‘Pay with Square’, and added new features to it. Pay with Square — used by 75,000 merchants — now comes with a simpler user interface, a new search bar and map view, and the ability for customers to share their comments about merchants via email, Twitter or SMS.

That apart the application has been launched as an Android app ( iOS version for Apple devices exists).

With the new changes, Square plans to redefine how consumers use its quarter-sized, credit-card swapping device.

Last week, PayPal unveiled its own mobile-payment device to compete with Square.

Notably, Square has also introduced Register, a cash register-like app for iPad.

Square:

Compared to last year, Square is expected to double the revenue it will make to help merchants process sales of goods ($4 billion). Notably, PayPal is a big rival for Square, the de facto standard for processing payments online that was acquired by eBay for $1.5 billion in 2002.

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e-commerce apps for android , e-commerce apps for iOS , Pay with Square , PayPal , Square

Square renames revamps Payer app, and launches its Android version

Anil Singh Monday, March 26, 2012

Zong acquired by EBay for $240 million

The e-commerce giant, EBay acquired Zong, the mobile payments provider, last week.

The acquisition is being seen as Zong’s attempt to up the ante in the mobile payments arena.

Talking of EBay, the e-commerce giant, believes that buying Zong will boost its another product, the Paypal, which has already a formidable position in the mobile payments and digital goods segment.

EBay reportedly paid $240 million in cash for Zong.

Zong notably has tie-ups with more than 250 mobile network operators globally (it looks after their payments, facilitates mobile payments for online goods and services in 21 languages, 45 countries).

EBay believes that the acquisition, which is awaiting regulatory approval, will not affect its financial guidance issued in relation to its first quarter earnings as on April 27, 2011, because of Zong that is expected to close in the third quarter 2011.

About Zong: Zong is based in the USA while it has branches in Geneva, Paris and Dusseldorf. Matrix Partners, Advent Venture Partners and Newbury Ventures are its partners. Zong enables consumers to carry out online transactions using their mobile phones and computer systems through direct carrier billing (that's all Zong needs is the transactor's phone number). ---------

Acquisitions , eBay , PayPal , Zong

Zong acquired by EBay for $240 million

Anil Singh Monday, July 11, 2011

PayPal makes Important Changes regarding India

First a short snippet about Paypal,

PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to traditional paper methods such as checks and money orders. A user can put money to his PayPal Account with an electronic debit from a bank account or by a credit card. If a person receives money in his PayPal account, then he/she can either request a check from PayPal, establish their own PayPal deposit account or request a transfer to their bank account.

In short PayPal, is an easy way to receive money, buy products or transfer money online. PayPal which is owned by e-commerce gaint e-Bay is very popular among online entrepreneurs, bloggers, students and people living abroad. A person can open a PayPal account for Free and there's no minimum balance account either.

PayPal legally operates for Indians living in India and anywhere in the world too(in most countries).

Owing to the new rules from the Reserve Bank of India, India’s central Bank, who intends to regulate PayPal payments like other wire transfers of cash, PayPal is making more changes to its online payment service in India. Below are the new changes:

1) PayPal will begin restricting the size of payments to merchants in India. According to PayPal blog, the new rules imposed by the bank will be effective March 1.

2) Under the new rules, India-based merchants who use PayPal won't be able receive payments from outside India for more than $500 per transaction. For purchases or payments above this transaction value, you will have to use an alternative payment method. According to PayPal, most of transactions by merchants who use PayPal in India involve less than $500.

3) The new rules also stipulate that, as of March 1, PayPal users in India won't be able to use their existing balance and future payments to buy any items. Instead, they must transfer funds to a bank account in India first.

4) PayPal users within India who sell goods to buyers outside India will have to transfer their PayPal funds to a bank account in India within a week of being notified that they had made a new sell.

5) However, users in India will still be able to use PayPal to buy items from foreign merchants over the Internet.

PayPal underlines that the rules by RBI will affect all online payment services in India. So PayPal is not alone to be making changes to its rules with respect to India.

The new changes are a mixed bag, but they seem to be affecting more to Merchant account users from India than simple PayPal users.

PayPal is a must for all people who engage in online activities, like online entrepreneurs, merchants, bloggers, professionals; and to those who or some of their family members lives outside their countries; as the service is an easy way to both receive, spend and transfer money online. ---------

PayPal , Tech24Hours India

PayPal makes Important Changes regarding India

Anil Singh Saturday, January 29, 2011