A PayPal scam? The Honey extension owned by the brand finds itself at the heart of a scam promoted by influencers.
Since its creation in 1998, PayPal has been became a pioneer and a global leader in online payments. However, an extension, which the app owns, has been at the heart of a vast scam for several days…
PayPal, a revolutionary payment application
Thanks to a combination of innovation, ease of use and security, PayPal has managed to establish itself as a key player in the digital economy. In 2024, the app will have more than 430 million users active around the world.
This therefore makes it possible to consolidate its position on a market in full expansion. Its presence in over 200 countries, combined with support for 25 currencies, makes it a universal solution for cross-border transactions.
The ease of opening an account and integrating on e-commerce sites played a key role in this mass adoption. The platform has expanded its range of services, offering solutions for individuals and businesses.
Key services include PayPal Checkout, which simplifies online shopping. PayPal Credit, an integrated credit solution. Venmo, very popular in the United States, for payments between individuals.
Xoom is intended to be used for fast international money transfers. Additionally, the integration of cryptocurrencies into the app allows users to buy, sell and hold digital assets.
This reinforces the attractiveness of the platform. PayPal’s reputation is largely based on his safety and by protecting users’ banking data and offering a guarantee in the event of a dispute, the app inspires confidence.
An app that multiplies new features
This was decisive for consumers hesitant to share their financial information online. With the explosion of online commerce, PayPal has become an indispensable tool for millions of merchants.
Indeed, its ability to process fast and secure payments has contributed to son adoption massive through platforms like eBay. But also by many small and medium-sized businesses.
Thanks to commissions on each transaction, PayPal was able to generate substantial income. In 2024, its turnover will exceed $30 billion, strengthening its leading position in the sector.
Besides, PayPal also plays a role in financial inclusion. It thus offers services to unbanked people in certain regions.
Its accessible solutions make it possible to reduce barriers access to digital payments. But PayPal remains a very popular payment platform, despite recent controversies over the use of its users’ data for advertising purposes.
The company has diversified in recent yearsnotably with the purchase of the Honey browser extension in 2019 for $4 billion. This was recently reported by Wired.
PayPal: its extension at the heart of a dark controversy
This extension helps French people find discount coupons for save money on their purchases. And this, while generating income for content creators via affiliate links.
However, an investigation carried out by the videographer MegaLag, broadcast on YouTube, highlights illegal practices. Which therefore calls into question Honey’s transparency.
According to MegaLag, Honey would be involved in misappropriation of commissions from affiliate links. Indeed, the extension of PayPal would intervene to replace tracking cookies with its own.
Result: PayPal Honey recovers all the money, to the detriment of content creators. And the French are therefore not spared.
The investigation reveals that Honey, which is supposed to offer the best deals, could deliberately prevent the display of cheaper coupons. This strategy limits those who use it in their manual searches potentially more interesting promotions.
PayPal has not yet commented on these accusations. For its part, MegaLag claims to still have information to reveal concerning those who have Honey’s partner businesses.
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