TIO Networks Provides Update on Suspension of Operations

Source PayPal

Source PayPal

TIO Networks is the company that owns the network used to process payments made at those locations.

More than 370,000 Duke Energy customers may have had their information compromised.

PayPal acquired TIO Networks in July for $238 million in its efforts to expand services to financially underserved cosnumers.

PayPal said its customers are unaffected by the breach as the TIO systems are separate from the PayPal network.

Source Getty Images
Source Getty Images

PayPal Holdings Inc. has revealed that TIO Networks Inc., a financial services company that facilitates bill payments in offline locations it acquired earlier this year, was hacked and private data from 1.6 million customers was compromised.

The country's largest electric company said Tuesday the customers paid a bill by check or cash at 550 walk-in payment processing centers in the Carolinas, Florida, Indiana, Ohio and Kentucky since 2008.

Only TIO users have been impacted, this data breach has not affected users of any other PayPal service or PayPal itself.

In November, PayPal announced the suspension of TIO Networks' operations due to "PayPal's discovery of security vulnerabilities on the TIO platform and issues with TIO's data security program that do not adhere to PayPal's information security standards".

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PayPal has also promised to offer free credit monitoring memberships to all affected customers of TIO Networks, aside from working with all companies that the latter serves to identify and notify affected customers.

As you may know, these data breach issues are nothing new.

"At this point, TIO can not provide a timeline for restoring bill payment services, and continues to recommend that you contact your biller to identify alternative ways to pay your bills", TIO Networks says.

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