PayPalis
reportedly planning to offer users a password-generating key fob to
deliver two-stage security to their accounts.
The move means that, even if a hacker or identity thief managed
to steal usernames and passwords for PayPal accounts, they still
wouldn’t be able to get access to those accounts.
The planned device displays a new numeric one-time password
every 30 seconds.
PayPal intends charging around $5 (£2.65) for the fob, but it
has not so far announced when it will be introduced to UK users.
PayPal first intends completing trials for the solution in the US,
Germany and Australia.
PayPal claims to have more than 120 million users worldwide. A
recent analyst report said the number of active PayPal users
completing online deals in the UK outstripped the number in other
European countries.
Online retailers face mixed payment
preferences
Information security predictions for 2007
Comment on this article:
computer.weekly@rbi.co.uk