PayPal has announced an agreement to acquire Fraud Sciences Ltd., a privately-held Israeli company with expertise in online risk tools, in a cash transaction with an aggregate transaction value of approximately $169 million. According to PayPal, "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." The acquisition of Fraud Sciences fits into eBay’s recently announced plans to significantly improve trust and safety across its sites in 2008. “Integrating Fraud Sciences’ risk tools with PayPal’s sophisticated fraud management system should allow us to be even more effective in protecting eBay and PayPal's hundreds of millions of customers around the world," said Scott Thompson, President of PayPal. Key personnel from Fraud Sciences, including Yossi Barak, Fraud Sciences’ COO, and founders Shvat Shaked and Saar Wilf, will join the company’s technology and fraud management teams. Gadi Maier, Fraud Sciences' President and CEO, will provide strategic and operational support to the company during the integration period This acquisition, which is subject to the satisfaction of certain conditions, is expected to close within the next 30 days. eBay does not expect this acquisition to have a material impact on its 2008 financial guidance issued in conjunction with its fourth quarter earnings released on January 23, 2008
This is certainly a synergistic move by Paypal, this acquisition should be able to help Paypal improve upon its fraud detection capability.
All i hope from Paypal is that they really look into the matter when ever there is a charge back cause most of the times genuine people get scammed and scammers get what they wanted.
well you know what they say, when it comes to security, the Israeli are the best. Y'know with being bombed like every second day and all
PayPal is a mess now, People including me are also scared to keep few $ in their PP Account so their account doesnt get limited tomorrow
They are limited for some reasons for eg using of VCC etc, I have not heard of Paypal limiting accounts with no reason and arbitrarily.
Yes, VCC limits the account, that is not a problem, nowdays many paypals are being hacked and even mine was hacked, so people send hacked funds also for buying scripts etc and the money charge backs, paypal should increase their security like asking for some cinfirmation before sending a payment like moneybookers...