SZ podcast “To the Point”: Paypal security gap: Opportunity for Europe?

Founded in the late 1990s, the payment service provider PayPal is also extremely popular in Germany. Almost 30 percent of all online transactions went through the US company last year. However, criminals repeatedly attempt to outsmart PayPal and thus illegally steal money from its customers' bank accounts.

Currently, security measures appear to have failed twice. At least temporarily, various German banks have blocked all PayPal transactions, says Meike Schreiber, SZ banking correspondent in Frankfurt am Main. The extent of the damage is still unclear, but European banks are using the US company's reputational damage to promote their own alternatives.

In other news: German Cabinet passes draft bill on military service; Denmark summons US ambassador over Greenland.

You can read our SZ colleagues’ research on Paypal here .

A commentary on possible consequences of the recent mishaps can be found here.

Europe first: Here you will find good European alternatives to US services such as Chrome, Play Store, Android or Chat-GPT.

Military service in Germany is still voluntary. But how attractive is the military profession for young people? You can listen to our research podcast "Das Thema" on recruiting young people for the Bundeswehr here.

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