PayPal announced a new way for members to add more security to their PayPal accounts using mobile phones. Customers can now choose to receive a unique six-digit security code via text message to their mobile phones prior to logging in to their accounts.
The PayPal SMS Security Key adds another layer of security to PayPal accounts and uses the same security infrastructure as the PayPal Security Key, which generates a unique security code approximately every 30 seconds on a small electronic token. Members receive this code to their phones or tokens, and use the codes along with their usernames and passwords to sign in to their accounts.
This type of security is used as an additional means to protect consumers and reduce losses from online fraud such as phishing attacks.
Both the PayPal Security Key token and the SMS security codes are now available to customers in the U.S., Australia, Austria, Canada and Germany. PayPal does not charge for delivery of security codes to a mobile device; however, the mobile provider’s standard text messaging charges will apply. To use the service, customers need a mobile device and wireless service set up to receive SMS text messages.