1/18/2024 0 Comments Paypal number of accountsThe idea behind the founding of what is now known as PayPal was to create an effortless digital payment platform that would be low-cost and user-friendly both on the business and consumer side of a transaction.Īround two years after the initial startup was launched as a low-cost payment service for digital payments, the name was officially changed to PayPal as it is known today. It was created back in 1998 by Max Levchin and Peter Theil. The service itself wasn’t named PayPal at first but was called Confinity. With over 286 million global active users, PayPal has come a long way in the short time it has been a part of the digital space. This allows buyers to purchase from various digital spaces without an excessive risk of having their information stolen. A buyer’s PayPal account will be connected to either their credit card, or their banking account. PayPal serves as a go-between offering a way for consumers to pay for services or products on a site without having to enter their banking information or their credit card number on that site. Some notable exclusions, meaning residents of these countries aren’t allowed to use PayPal or its helpful services, include Afghanistan, Pakistan, Liberia, and Myanmar. Interestingly enough, more than 200 territories and nations allow their residents to use the PayPal service to send and accept payments. Bringing up the top five is France with 20.50 million users or 2.87% and Italy with 21.90 million users or 3.06%. This is followed by Germany, which has 137.70 million users, or 19.25%, and the United Kingdom with 56.20 million users, or 7.85%. Password reuse is still a big problem despite the risks but hopefully this incident will help convince more people to use strong, complex and unique passwords for each of their online accounts - especially their financial ones.The World Population Review tabulated that the United States has the most PayPal users with 278.10 million or 38.87%. PayPal also recommends that you enable two-factor authentication ( 2FA) for your account which can help prevent a hacker from accessing it even if they do get their hands on your credentials. If this happens, these funds can be used to reclaim your identity, get new documents and cover any other costs related to identity theft. However, if you want even more protection, you may want to sign up for one of the best identity theft protection services as they monitor your identity while also providing insurance money in case your identity is stolen. However, many of them also offer free password generators online.Īs hackers can do quite a lot with your name, birth date, address and Social Security number, PayPal is providing two years of free identity monitoring from Equifax. This can also be done with one of the best password managers as they can generate strong passwords for you. As such, the next time you log in, you should create a strong, complex and unique password for your account. If you received a message from PayPal saying your account was breached by hackers, the company has already reset your password. What to do next if your PayPal account was breached If a site or service is breached and a hacker obtains your password, they then try and use it to log in to your other accounts. This is why password reuse - where a person uses the same password across multiple accounts - is so dangerous. These bots try the credentials at multiple online services with the hope that customers haven’t recently changed their passwords. Credential stuffing attacks often rely on automation to crack a user’s account by using bots with lists of usernames and passwords acquired in previous data breaches.
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