PayPal Offering SecureID Keys
PayPal is offering (it’s supposed to start in 2007 but you can’t get one yet) these slick new SecureID tags that will definitely help improve security in PayPal accounts. The idea behind SecureID is that it will display a six digit number that changes every thirty seconds and that number will be required every single time you log into your account. Why is this more secure? Well security comes down to three things - what you know, what you have, and who you are. Your user name and password satisfy the ‘what you know’ part and the key will satisfy the ‘what you have’ part.
This will protect you against phishing because even if thieves find out your user name and password, without the SecureID code they cannot access your account.
The key is only $5.00 but it’s absolutely free for Business accounts!
PayPal Security Key Site (thanks Consumerist!)
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3 Comments - Share Your Thoughts
I’d like to see online banks offering these instead of those silly useless security measures they do now. (I’m content with a username and password, actually, since I know how to pick secure passwords and I’m not vulnerable to spyware…but PayPal is the only finanical site left, it seems, that’s willing to trust me on that.) At least with the SecurID keyfob, I wouldn’t have to worry about remembering a unique security procedure for each site.
[...] Well, there is good news in the pipeline. Paypal is now concerned about this issue and is introducing secure ID tags. I liked this concept of security. Heard about HSBC doing a similar stuff for its online customers sometime back. Assurance from paypal that my money is safe, adds to the convenience that it already provides. Read more [...]
[...] frequent flyer programs are accelerating expirations. Blueprint for Financial Prosperity notes that ayPal is offering security keys for account [...]