PayPal security buy

Israeli niche firm acquired

EBay's online payments division, PayPal, is to pay US$169 million (NZ$219 million) for Fraud Sciences, an Israeli security company specialising in detecting online fraud.

Fraud Sciences has developed technology designed to differentiate between real and fraudulent transactions. That technology will be folded into PayPal's antifraud systems, which will be "significantly" improved this year, eBay says.

Fraud Sciences' Chief Operating Officer, Yossi Barak, and founders Shvat Shaked and Saar Wilf will move to PayPal's technology and fraud management teams.

PayPal lets two users exchange money online via email addresses. The ease at which people can transfer money has also made it one of the most highly targeted brands for phishing scams.

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Tags technologyfraud sciencespaypal

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