Amazon Tells Users to Uninstall Fintech Browser Honey Over Security Issues

January 13, 2020 | FinTech, Investments, Latest News, News

PayPal just purchased the fintech firm for $4 billion

The browser extension Honey just lost a huge source of opportunity. Just weeks after PayPal purchased the browser extension for $4 billion, Amazon has told customers to uninstall it.

The e-commerce raised questions about consumer privacy and said that the extension represented a “security issue.”

“Honey tracks your private shopping behavior, collects data like your order history and items saved, and can read or change any of your data on any website you visit,” a security warning that was retweeted by users read. “To keep your data private and secure, uninstall this extension immediately.”

Browser Extension Honey and Fintech Woes

The browser extension Honey founded in 2012. It allows customers to locate coupons while they shop online. It generates revenue by procuring a commission on sales and now has about 17 million users.

PayPal, sensing an opportunity in e-commerce on platforms like eBay and Amazon, recently purchased the firm for $4 billion. This was the largest acquisition in PayPal’s history.

Amazon has its own discount plug-in called Amazon Assistant and does not accept PayPal on its platform. That has raised some questions among PayPal supporters about Amazon’s motivations. Honey has worked on Amazon for seven years, and it’s the first time that Amazon has criticized the plug-in.

The statement also drew a quick response from Honey, whose spokesperson said the extension “is not — and has never been — a security risk and is safe to use.”

The firm denied that it sells customer data.

It also said that it only collects “limited customer data.”

Related: Paypal Blocks Payments to PornHub Models; Cryptos See Opportunity

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

January 16, 2020

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

Latest Alternative Investment News

Emission-Free Friday: Here are the Latest Funds to Push for Carbon Neutral
January 17, 2020     ESG and Sustainability, Investments, News

Carbon emissions dominated the headlines this week. The European Commission has announced an ambitious plan to shift toward a green economy and make the EU carbon-neutral in the year ahead….

Kirkoswald Asset Management Will Turn New Investors Away in 2020
January 17, 2020     Hedge Funds, News

Kirkoswald Asset Management will stop accepting new investors when the fund hits nearly $2 billion. Reuters reports that the two-year-old fund will close itself to new investors at the end…

FinTech: Fundbox Hires Former Goldman Sachs Investment Banker as CFO
January 17, 2020     FinTech, Venture Capital

Fundbox, the fintech startup that finances SMEs, is planning a potential IPO. Fundbox has appointed Marten Abrahamsen as its CFO effective this January. Abrahamsen was previously a partner at The…

Hedge Funds: The Empire Strikes Back At HKD Short-Sellers and Doomsayers
January 17, 2020     Hedge Funds, News

Such is the power of Kyle Bass, the hedge fund manager who correctly predicted the crisis from US subprime mortgages in 2007. The Hong Kong Monetary Authority deemed it appropriate…