PayPal Offers Credit Alert Monitoring Through Equifax; PayPal and Equifax Team Up to Provide Credit Alerts and ID Protection Hotline
May 9, 2006 |
ATLANTA & SAN JOSE, Calif.--May 9, 2006--Equifax (NYSE:EFX) and PayPal today announced a new credit alert program that provides PayPal account holders in the United States with free monitoring of their credit records. Through this relationship, PayPal users receive free early warnings alerting them to activity on their Equifax credit report.
PayPal users can monitor their personal and financial information through the following Equifax products:
-- Credit Alert Emails: Credit alert emails inform a PayPal user when there is an inquiry into the user's Equifax credit file. This alert provides a notification within 24 hours if someone tries to establish credit in the user's name.
-- Balance-Change Alerts: A balance-change alert tells PayPal users if their credit card balances increase by a defined amount.
-- Identity Theft Hotline: The identity theft hotline is a toll-free identity protection hotline that provides tips and valuable information for PayPal users who suspect they have been subject to identity theft.
"Already, PayPal customers are able to shop online with confidence because buyers can pay for purchases without sharing their financial information with the merchant," said Dana Stalder, senior vice president of PayPal marketing and business operations. "And today, with this new offering from Equifax, PayPal is one of the only online payment services to offer free credit monitoring services to its customers."
"With its millions of loyal users, PayPal recognizes the importance of security and privacy in the online marketplace," said Steve Ely, group executive, Personal Solutions, Equifax. "Equifax is committed to helping consumers and businesses protect themselves against identity theft. Our credit alert product gives PayPal users a convenient and easy way to help prevent their information from getting into the hands of identity thieves."
Credit monitoring plays an important role in helping consumers protect their most valuable asset - their personal and financial information. A 2005 Javelin Research study found that victims of identity theft who monitored their accounts online experienced financial losses that were almost 90 percent less than those relying on paper statements.
To learn more about how to receive Equifax credit alerts, PayPal users can visit https://www.paypal.com. For more information about Equifax credit monitoring products and solutions, visit www.equifax.com.
About PayPal
Founded in 1998, PayPal, an eBay (Nasdaq:EBAY) company, enables any individual or business with an email address to send and receive payments online securely and easily using a bank account, credit card, buyer credit or stored balance. Because PayPal allows customers to shop online without sharing their financial information with merchants, privacy is built into the service. PayPal has more than 105 million accounts and is available to users in 55 markets around the world. More information about the company can be found at https://www.paypal.com.
About Equifax (www.equifax.com)
Equifax Inc. is a global leader in information technology that enables and secures global commerce with consumers and businesses. We are one of the largest sources of consumer and commercial data. Utilizing our databases, advanced analytics and proprietary enabling technology, we provide real-time answers for our customers. This innovative ability to transform information into intelligence is valued by customers across a wide range of industries and markets. Headquartered in Atlanta, Georgia, Equifax employs approximately 4,600 people in 13 countries throughout North America, Latin America and Europe. Equifax was founded 107 years ago, and today is a member of Standard & Poor's (S&P) 500(R) Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.