News

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

Published

3 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

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

2 days ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.