News

Netflix Is Testing A Way To Stop Its Users From Sharing Their Passwords

Published

4 years ago

March 15, 2021

netflix is testing a way to stop its users from sharing their passwords

It seems that Netflix is no longer fine with users sharing their passwords with other people because the popular video streaming service is testing a new account ownership verification prompt.

“This test is designed to help ensure that people using Netflix accounts are authorized to do so,” said Netflix spokesperson Ebony Turner. Users who see the prompt are asked to verify account ownership by a code, sent via email or text. At the time of writing, the test seems to be rolled out more or less randomly, but that could quickly change in the future.

Netflix, which now has more than 200 million subscribers around the world, said that users who are unable to verify account ownership wouldn’t be able to continue using the service unless they purchase their own subscription.

While this measure is unlikely to stop password sharing among friends and extended family members, who can simply share the required authorization code, but it may at least slow down password sharing on various online forums and dark web sites.

The decision to crack down on password sharing is likely a reaction to the growing competition Netflix is facing, with streaming services such as Amazon Prime Video, HBO Max, Disney Plus, and Hulu offering their own original TV shows and movies.

Also Read: Netflix Is Introducing Sleep Timer Functionality On Android

Back in 2016, Netflix co-founder and chief executive Reed Hasting said that password sharing was something Netflix had to learn to live with because the amount of legitimate password sharing between family members was too high. Even in 2019, chief product officer Greg Peters stated that the streaming service had no plans to change its stance on password sharing.

Right now, Netflix’s terms of service state that the service is intended “for your personal and non-commercial use only and may not be shared with individuals beyond your household.” It’s not really clear whether Netflix means a physical household, so we wouldn’t be surprised to see the company clarify its terms of service if the new account ownership verification prompt becomes a standard feature.

News

Paymob Extends Series B Funding To $72M Amid Continued Growth

The financial services provider has secured an extra $22 million after strong performance in its core market of Egypt.

Published

21 hours ago

September 12, 2024

Nour Nasir

paymob extends series b funding to $72 million amid continued growth

Leading financial services provider Paymob has secured an additional $22 million in a funding extension, bringing its Series B total to $72 million.

The funding was spearheaded by EBRD Venture Capital, with support from Endeavor Catalyst. Existing backers such as PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures also participated, reaffirming their confidence in Paymob’s business model and potential in the regional fintech industry.

This extension comes on the back of Paymob’s strong performance in its core market of Egypt, where it has experienced 6x revenue growth since the initial Series B in Q2 2022. With the Series B extension and continued profitability in Egypt, Paymob is well-positioned to further its expansion strategy across the MENA region.

Islam Shawky, Co-founder and CEO of Paymob, commented: “We are very excited by our strong prospects in Egypt – where we hold a market-leading position – and the significant traction experienced in the UAE since launching operations there. This funding will help Paymob fully capitalize on the momentum in our established markets, as we accelerate our GCC roll-out. We remain committed to creating cutting-edge infrastructure enabling SMEs across the region to thrive in the digital economy and are proud of our continued impact”.

Also Read: Zoho Expands Qatar Operations & Releases New Survey Data

The expansion into GCC markets has been driven by Paymob’s initial Series B funding of $50 million, raised in 2022 and led by Kora Capital, PayPal Ventures, and Clay Point. The investment fueled Paymob’s growth, allowing it to launch its mobile app in 2023 and grow its merchant base by 3.5 times, now serving nearly 350,000 merchants across MENA.

Paymob has also expanded its payment acceptance suite to offer 50 payment methods through its gateway, POS terminals, and the Paymob app, providing the region’s most comprehensive fintech solution. The company recently introduced embedded checkout services for Shopify and WooCommerce, further demonstrating its commitment to empowering small and medium businesses across the region.