PayPal Users Can Now Ditch Passwords on Compatible Apple iOS and Mac Devices
PayPal has added the option to use passkeys as an easy and secure login method for PayPal accounts using compatible Apple IOS and Mac devices, the company announced today.
- Do you need a business bank account for your online business? Have a look at our review of the five best bank accounts for sellers, some of which are free with no minimum balance or deposits.
- AI can change your entire social media game today. Learn how you can save time writing engaging content faster. [sponsored]
- How to lower your taxable income and pay less in taxes. [sponsored]
- ‘My Community Made’ is a new marketplace to compete with Etsy and Amazon Handmade.
- EXCLUSIVE: Interview with Chris Prill, VP eBay Motors, discussing the new Guaranteed Fit program.
Passkeys are a new industry standard created by the FIDO Alliance and the World Wide Web Consortium replacing passwords with cryptographic key pairs.
This offers PayPal customers a simple and secure way to log in to their account based on technology resistant to phishing and designed so that there is no shared passkey data between platforms.
The new PayPal login option will first be available to iPhone, iPad, or Mac users on PayPal.com and the company plans to expand the option to additional platforms as those platforms add support for passkeys.
As a founding member of the FIDO Alliance, PayPal is one of the first financial services companies to make passkeys widely available for its users.
This cutting-edge security standard is significant as passkeys address one of the biggest security problems on the web, which is the weakness of password authentication.
Over 2.6 billion records were hacked in 2017 and of these hacks, the majority have been caused by password stealing and guessing.
Many consumers recycle passwords across online services, which can not only be cumbersome but can also lead consumers to reuse the same, potentially vulnerable passwords across services.
Passkeys are designed to replace passwords for an even more seamless and secure login experience with PayPal.
Passkeys will also help more consumers complete their purchases with PayPal – once PayPal users create a passkey, they won’t have to remember their password, allowing them to check out with greater ease.
According to a recent survey, 32% of consumers globally abandon an online purchase at least once per month because they forgot a password.
“Launching passkeys for PayPal is foundational to our commitment to offering our customers safe, secure and easy ways to access and manage their daily financial lives,” said Doug Bland, SVP and GM, Head of Consumer, PayPal.
“We are excited to provide our customers a more seamless checkout experience that eliminates the risks of weak and reused credentials and removes the frustration of remembering a password. We are making it easier for customers to shop online.”
How to Create a PayPal Passkey
Creating and using a passkey with PayPal is a quick and easy process on an Apple device.
Once created, passkeys are synced with iCloud Keychain, ensuring a strong, private relationship between a customer and their device, and an easy sign-in experience for PayPal users with devices running iOS 16, iPadOS 16.1, or macOS Ventura.
- Once existing customers log in to PayPal with a browser on desktop or mobile web using their existing PayPal credentials such as a username and password, they will have the option to “Create a passkey.”
- Customers will then be prompted to authenticate with Apple Face ID or Touch ID. Then the passkey will be automatically created, and the next time PayPal customers log in, they won’t need to use or manage a password again.
PayPal Passkeys Can Be Used to Log In on Any Device
If they have devices that don’t support passkeys yet, users can still use an iPhone to log in with a PayPal passkey.
Users simply scan the QR code that will appear after they enter their PayPal User ID.
PayPal passkeys will start rolling out now to customers in the US.
PayPal passkeys will become available in additional countries early in 2023, and on additional technology platforms as they add support for passkeys.
Connect with us: Head over to our Facebook Group for Small Business Sellers and interact with other small business owners.
Follow us on Facebook, Twitter, or LinkedIn to stay up to date with relevant news and business insights for your online business.
Subscribe to Our Newsletter
Business Insights for Your Online Business Presented with a Dash of Humor
We do not share your information and you can unsubscribe anytime.
Editorial Note: This post is from a Company Press Release and may have been modified for clarity.