PayPal UK has teamed up with VeriSign to allow PayPal customers to log into their payment accounts with single-use passwords delivered via text messages to their cell phones.
Paul Demery , Managing Editor, B2B E-commerce
PayPal UK has teamed up with Internet security services provider VeriSign Inc. to allow PayPal customers to log into their payment accounts with single-use passwords delivered via text messages to their cell phones.
Users of the SMS Security Key, the two companies say, can now access their online accounts in a secure manner through a VeriSign Identify Protection security credential that generates a one-time password for every sign-on.
"Offering the Security Key via text message is really important as we want to make it as quick and convenient as possible,” says Garreth Griffith, head of risk management at PayPal UK. “You just need your mobile phone to use it, which prevents having to carry another gadget around with you."
Consumers whose devices support SMS-and who subscribe to SMS services from their mobile providers-can receive PayPal one-time passwords without having to download any special software, PayPal says. PayPal is a unit of eBay Inc.
The new SMS functionality is provided by VeriSign`s Messaging and Mobile Media division, which offers mobile messaging to more than 700 carriers and reaching over 3 billion wireless subscribers in over 200 countries, VeriSign says.