Posted By Remote Techs On 19-December-2017
TIO Networks, a cloud-based, multi-channel bill payment platform purchased by Paypal for $233 million in 2017, was breached earlier this year, exposing PII (Personally Identifiable Information) for an estimated 1.6 million of the service’s users.
TIO Networks primarily does payment processing and accounts receivables for cable, utility, wireless and telecom companies in North America. If you do business with TIO, it’s possible that your company or personal information may have been compromised.
So far, neither Paypal nor TIO Networks has released any significant details about the breach, so we do not yet have any indication of how it happened, who was responsible or exactly which of their customers had their information exposed. Paypal did release a brief statement concerning the incident, which said, in part:
“The PayPal platform is not impacted in any way, as the TIO systems are completely separate from the PayPal network, and PayPal’s customers’ data remains secure.”
The statement went on to say that as soon as PayPal identified the breach, they took action by “initiating an internal investigation of TIO and bringing in additional third-party cybersecurity expertise to review TIO’s bill payment platform.”
For their part, TIO Networks has suspended all operations until the investigation into the matter has been completed, and has begun notifying impacted customers. In addition to that, as is common with situations like these, they’re also working with Experian to provide a year’s worth of free credit monitoring for people who were affected.
A part of TIO’s statement about the incident reads as follows: “At this point, TIO cannot provide a timeline for restoring bill pay services, and continues to recommend that you contact your biller to identify alternative ways to pay your bills….We sincerely apologize for any inconvenience caused to you by the disruption of TIO’s service.”