- Bargaineering - http://www.bargaineering.com/articles -

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 [3] (thanks Consumerist [4]!)