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PayPal Introduces Security Key

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PayPal has introduced the PayPal Security Key for its customers at the eBay Live Conference in Boston.

PayPal Introduces Security Key
PayPal Introduces Security Key

The key is a small electronic token that creates a new security code about every 30 seconds. Members can use the code, along with their user name and password, to access their eBay and PayPal accounts. The key is designed to keep unauthorized users from accessing accounts.

"We’ve had a tremendously positive response to the PayPal Security Key beta program and are excited to make the device generally available," said Michael Barrett, chief information security officer at PayPal.

"While PayPal.com remains a trusted and secure environment, the PayPal Security Key allows customers to take their privacy and security into their own hands to help protect their eBay and PayPal accounts against unauthorized access."

The PayPal Security Key is part of the VeriSign Identity Protection (VIP) Network. Consumers can use the key to protect themselves on a variety of financial services and e-commerce Web sites.

"Through the VIP Network, eBay and PayPal members will be able to use their PayPal Security Key to protect their account data at other participating sites and thereby reduce online fraud and cyber crime," said Fran Rosch, vice president, Authentication Services, VeriSign.

The PayPal security Key has a one-time fee of $5.00 for PayPal and eBay account holders in the U.S. The key will be available in Germany and Australia with more countries to be added later.

PayPal Introduces Security Key
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  • Eric

    Paypal is very secure from my personal experience! Though, it’s always best to be safe and continue to improve and keep things secure in an ever growing feild of scams. Though, it will be interesting to keep an eye with what or how Google checkout will play out versus paypal.

    Something to keep updated on, though you guys do a great job of that already! Thanks for all your great articles. Please keep them coming!

    Thanks again,

    Eric
    http://ambatchmasterpublished.blogspot.com

  • Kurat

    It is about time PayPal would introduce Estonia, I mean I have nothing against PayPal adding all these “must have” features, but they are of no use to me since I cannot use PayPal. The Age just recently made a list of tech capitals of the world and Tallinn, the capital of Estonia, was on 7th place, just in front of New York. What is the use of having internet available everywhere if we are not allowed to use it…

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