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Group 3 Case Study of PayPal

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Group 3 Case Study of PayPal

  1. 1. WELCOME EVERYONE ! WE ARE SO DELIGHTED THAT YOU COULD JOIN US TODAY IN THIS PRESENTATION!
  2. 2. ITEC 610 Group 3 Dan Matheny Jean Lordeus Guy Williams Kouam
  3. 3. Agenda <ul><li>Company Background </li></ul><ul><li>Corporate Timeline </li></ul><ul><li>Textbook Case Study Problem Facing PayPal </li></ul><ul><li>Reaction to the Issue </li></ul><ul><li>Outcome of the Proposed Solution </li></ul><ul><li>Additional Issues at PayPal </li></ul><ul><li>Evaluation of Solutions </li></ul><ul><li>Summary </li></ul><ul><li>References </li></ul>
  4. 4. Company Background <ul><li>Service that allows members to send/receive money </li></ul><ul><li>Website: https://www.paypal.com </li></ul><ul><li>Corporate Headquarters </li></ul><ul><ul><li>2211 North First Street </li></ul></ul><ul><ul><li>San Jose, California 95131 </li></ul></ul><ul><li>President Scott Thompson </li></ul><ul><li>94 million active accounts in 190 markets and 24 currencies </li></ul><ul><li>PayPal’s 2010 annual revenue was $3.4 billion, up 23 percent year over year (PayPal, 2011) </li></ul>
  5. 5. Company Timeline <ul><li>1998 Founded by Peter Thiel and Max Levchin </li></ul><ul><li>2002 Acquired by eBay </li></ul><ul><li>2005 PayPal Acquires VeriSign's Payment Gateway </li></ul><ul><li>2006 PayPal Expands Internationally </li></ul><ul><ul><li>Language/Currency Compatibility Issue </li></ul></ul><ul><li>2009 Offer Bill Me Later Option </li></ul><ul><li>2010 Now on Facebook, iPhone, and Android </li></ul>
  6. 6. Case Study Issue Facing PayPal <ul><ul><li>Textbook Case Study Outlines Polylingual Issue </li></ul></ul><ul><ul><ul><li>Foreign Language and Currency </li></ul></ul></ul><ul><ul><li>Hindered International Expansion </li></ul></ul><ul><ul><li>Threatened Company Future </li></ul></ul><ul><ul><li>Needed Effective and Permanent Solution </li></ul></ul><ul><ul><li>(Marakas & O’Brien, 2009) </li></ul></ul>
  7. 7. PayPal’s Reaction to the Issue <ul><ul><li>Re-architecting Software Code with Internal Solution </li></ul></ul><ul><li>Accommodate the Language Localization Issues </li></ul><ul><ul><li>Recognize Country/Location Automatically </li></ul></ul><ul><ul><li>Polylingual Simultaneous Shipping “SimShip” </li></ul></ul>
  8. 8. The Outcome <ul><li>Successful Implementation of SimShip </li></ul><ul><li>Overcame/Solved the Polylingual Issue </li></ul><ul><ul><li>No longer a relevant problem at PayPal! </li></ul></ul><ul><li>Currently Accepts 15 Languages, 17 Currencies, 190 Markets Worldwide </li></ul><ul><li>Expected to Process $100-$120 Billion in 2011. </li></ul><ul><ul><li>Projected Profit of $4-$5 Billion in 2011 </li></ul></ul><ul><ul><ul><li>(Chowdry, 2009) </li></ul></ul></ul><ul><li>The Solution was a Huge Success </li></ul>
  9. 9. Issues Beyond Case Study <ul><li>Security of Transactions </li></ul><ul><ul><li>Phishing Emails and Spoof Sites </li></ul></ul><ul><ul><li>Security Vulnerability of Mobile App </li></ul></ul><ul><ul><li>Backend System Security Holes </li></ul></ul>
  10. 10. Phishing and Spoof Sites <ul><li>Most Common Issue Facing Customers </li></ul><ul><ul><li>Emails Targeting Users </li></ul></ul><ul><li>Lead PayPal Users to Fake or Spoof Sites </li></ul><ul><ul><li>Looks Like Legitimate Website </li></ul></ul><ul><li>Steal Information, Identity, Money </li></ul>
  11. 11. Recommended Solution <ul><li>Never Click Link that Request Personal Info </li></ul><ul><li>PayPal Will Never Ask for the Following Via Email </li></ul><ul><ul><li>Credit Card Numbers </li></ul></ul><ul><ul><li>Bank Account Information </li></ul></ul><ul><ul><li>Driver’s License Number </li></ul></ul><ul><ul><li>Email Addresses, Full Name or Passwords </li></ul></ul><ul><ul><li>(PayPal, 2011) </li></ul></ul>
  12. 12. Mobile Device Vulnerability <ul><li>ViaForensics Uncovered Security Issue with iPhone </li></ul><ul><ul><li>Potential Identity Theft </li></ul></ul><ul><ul><li>Financial Risk </li></ul></ul><ul><li>PayPal’s Response </li></ul><ul><ul><li>Quickly Reacted to Issue </li></ul></ul><ul><ul><li>Created and Released Update to Correct App </li></ul></ul><ul><ul><li>(Ihaas, 2010) </li></ul></ul>
  13. 13. Backend System Security <ul><li>Numerous Security Holes </li></ul><ul><ul><li>Discovered by Avnet Technologies Researcher </li></ul></ul><ul><li>Backend System </li></ul><ul><ul><li>Business and Premier Accounts </li></ul></ul><ul><ul><li>Exposed Massive Amounts of Customer Data </li></ul></ul><ul><li>PayPal Patched Security Holes </li></ul><ul><li>(Prince, 2010) </li></ul>
  14. 14. Evaluation of Solutions <ul><li>Case Study Issue of Foreign Language/Currency </li></ul><ul><ul><li>SimShip Solution Very Successful </li></ul></ul><ul><ul><li>Company Expanded Internationally </li></ul></ul><ul><ul><li>Business Revenue Growth </li></ul></ul><ul><li>Other Security Vulnerabilities </li></ul><ul><ul><li>PayPal Very Proactive </li></ul></ul><ul><ul><li>High Degree of Customer Confidence </li></ul></ul>
  15. 15. Summary of PayPal <ul><li>Currently the most popular online payment system. </li></ul><ul><li>PayPal has Addressed Issues Effectively </li></ul><ul><li>Company is Leader in Industry </li></ul><ul><li>Customers Trust the Service </li></ul><ul><li>Company Committed to Quality/Integrity </li></ul>
  16. 16. References <ul><li>Chowdry, A. (March, 2009). PayPal expects revenue to increase substantially. Retrieved from http://pulse2.com/2009/03/11/paypal-expects-revenue-to-increase-substantially/ </li></ul><ul><li>Ihaas .(2010). ViaForensics: viaForensics uncovers PayPal application vulnerability. Retrieved from http://viaforensics.com/press-releases/viaforensics-uncovers-paypal-application-vulnerability.html </li></ul><ul><li>Marakas G. & Obrien J. (2009). Management information systems. pp. 473-474. McGraw-Hill </li></ul><ul><li>PayPal. (2011). Welcome to the press center. Retrieved from https://www.paypal-media.com/who </li></ul><ul><li>Prince, B. (2010). PayPal Patches Critical Security Vulnerabilities. Retrieved March 2011 from http://www.eweek.com/c/a/Security/PayPal-Patches-Critical-Security-Vulnerabilities-807636/ </li></ul>

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