PayPal has also announced a bug bounty program for security researchers. Security researchers will be awarded for reporting vulnerabilities that might affect Paypal and its customers.

“Today I’m pleased to announce that we have updated our original bug reporting process into a paid ‘bug bounty program. The experience from other companies such as Facebook, Google, Mozilla, Samsung and others who have implemented similar programs has been very positive,” PayPal’s Chief Information Security Officer Michael Barrett announced.

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“I originally had reservations about the idea of paying researchers for bug reports, but I am happy to admit that the data has shown me to be wrong – it’s clearly an effective way to increase researcher's attention on Internet-based services and therefore find more potential issues.”

The vulnerabilities that researchers can report are split into four categories: cross-site scripting (XSS), cross-site request forgery (CSRF), SQL Injection, and authentication bypass.

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How to report a vulnerability?

The process of reporting a vulnerability is very simple. Just send your findings to [email protected] by using the PGP public key that is available at this link.

After the verification of the bug, it will be fixed by the development team. Then security researcher will be paid via a verified PayPal account.

This is really a smart decision that will help PayPal to improve its security and make this platform safer for online transactions.

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