01:30 PM

PayPal's TIO Networks Suffered Data Breach Exposing Data on 1.6 Million Customers

PayPal states TIO Networks, a payment processing company it acquired this summer, is not part of its network and PayPal remains unaffected by the breach.

PayPal's TIO Networks suffered a data breach that may have compromised the personally identifiable information (PII) of up to 1.6 million of TIO's customers, PayPal Holdings announced late last week.

TIO, a payment processing company PayPal acquired in July, had its operations suspended last month after PayPal's ongoing investigation revealed TIO's network had been breached.

PayPal stressed TIO's systems are completely separate from its network, so PayPal's customer data remains secure.

TIO has begun to notify customers who may be affected by the breach and PayPal is offering free credit monitoring memberships to these individuals.

Read more about the breach here.

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