SAN JOSE, Calif. & BOSTON--Today at the sixth annual eBay Live! Conference, eBay Inc. (Nasdaq:EBAY) and PayPal announced the availability of the PayPal Security Key for its customers.
The PayPal Security Key is a small electronic token that generates a unique security code approximately every 30 seconds. Members can use this code, along with their user name and password, to sign into both their eBay and PayPal accounts, helping to prevent unauthorized users from accessing them.
This type of additional security, known as two-factor authentication, is used by leading financial institutions as additional means to protect consumers and reduce losses from online fraud such as phishing attacks.
“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. As part of this network, consumers use the PayPal Security Key to protect themselves on a variety of financial services and e-commerce websites.
“As founding members of the VIP network, eBay and PayPal are leading the way in giving millions of consumers the tools they need to add an extra layer of protection when online,” said Fran Rosch, vice president, Authentication Services, VeriSign. “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.”
The PayPal Security Key has a promotional one-time fee of $5.00 for PayPal and eBay account holders in the U.S. The PayPal Security Key will also become generally available in Germany and Australia with more countries to follow. More information can be found by visiting the PayPal Booth #1045 at eBay Live! or online at: https://www.paypal.com/securitykey or http://www.ebay.com/securitykey.
Founded in 1998, PayPal, an eBay company, enables any individual or business with an email address to send and receive payments online securely and easily using a bank account, credit card or stored balance. Because PayPal allows customers to shop online without sharing their financial information with merchants, privacy is built into the service. PayPal has nearly 143 million accounts and is available to users in 190 markets around the world. More information about the company can be found at https://www.paypal.com.
About eBay Inc.
Founded in 1995, eBay Inc. connects hundreds of millions of people around the world every day through commerce, delivering fun, engaging and trusted online experiences. We are constantly finding new ways to empower people worldwide to explore, learn, shop, share and talk with each other. Since its inception, eBay Inc. has expanded to include some of the strongest brands in the world, including eBay, PayPal, Skype, Shopping.com, and others. eBay Inc. is headquartered in San Jose, California.
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