In efforts to boost security, Paypal, one of the premier internet online payment providers is moving to block users who use older browsers to prevent weaknesses that these browsers possess. They have found that many users online still use old Microsoft IE 3.0 and 4.0 which have ended their support life a long time ago hence they do not have the needed updated security updates that are necessary to conduct safe and secure online transactions with regards to payments and other related business. Paypal has had a lot of bad publicity with regards to phishing and infiltration where people intercept and go on fake bidding sprees just to get at the vital financial information that people usually share over the network. In hopes of boosting security, they will be using script detection to begin blocking users and that they do apologize for all the inconvenience this may cause the millions of users who may be affected by their move. This comes as the amount of identity theft and other crimes have increasingly entered their ranks ending in much stolen information that leads to credit card fraud. Being the biggest, they are the most viable target for such hackers and they are trying to boost security on that front of the deal.
This would hopefully prevent more cases from developing and that any new ones will be ‘nipped in the bud’ so to speak.
Paypal and eBay have offered select users with a distinct security keys using VeriSign passwords that is to be transmitted during payment transactions which aims to prevent interception of the transaction information as it travels through the internet. Unlike specific credit card transactions that travel through dedicated lines which are now slowly being protected by PCI-DSS for improved security, regular PC do not have that much security hardware installed to protect them from interception by hackers who could tap into the network getting all credit card information for illegal purchases.