PayPal Bug bounty
By Sumir Singh

Google has paid independent security experts more than $500,000 dollars who have identified serious security weaknesses in Google products and services.  Facebook and Mozilla also have a similar bug bounty program.

PayPal has announced its own Bug Bounty Program

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The PayPal team of dedicated security professionals works vigilantly to keep customer information secure. We recognize the important role that security researchers and our user community play in keeping PayPal and our customers secure. If you discover a site or product vulnerability please notify us using the guidelines below.

To encourage responsible disclosure, we commit that – if we conclude that a disclosure respects and meets all the guidelines outlined below - we will not bring a private action or refer a matter for public inquiry.

PayPal security team will determine the bounty amount and all decisions are final.

Bounty is awarded to the first person that discovers the previously unknown bug.

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Being PayPal they are also using this to promote their product.  PayPal will only make payments to Security Experts with Verified PayPal accounts.