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BRIEF-PayPal announces ‍suspension of services by TIO Networks

Nov 10 (Reuters) - PayPal Holdings Inc:

* TIO Networks suspends operations to protect customers

* Suspension of services by TIO is a result of PayPal’s discovery of security vulnerabilities on TIO platform

* PayPal platform is not impacted in any way and PayPal’s customers’ data remains secure

* Upon discovery of vulnerability on TIO platform, co initiated internal investigation of TIO

* Upon discovery of vulnerability on TIO platform, co engaged third-party cybersecurity expertise to review TIO’s bill payment platform

* Focus of investigation will also include TIO’s practices and representations prior to acquisition

* Suspension of TIO network’s services is a result of PayPal’s discovery of issues with TIO’s data security program Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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