PayPal to add secure key fob

PayPal to add secure key fob


If there’s one thing we can’t stand, it’s identity theft. It’s so easy to get taken advantage of these days. You really have to watch what you say to whom and what kind of firewall you’re emailing behind. Oh, yes, and don’t give out your PayPal password to anybody—not even your mother.

PayPal, whose customers have been victims of far too many scams over the brief number of years that company has been in existence, is fighting back in a physical way with a password-toting key fob. The device has a LCD that flashes a six-digit password every 30 seconds. You get one chance to write it down or type it in, then it’s gone. You’re also supposed to have entered your PayPal username and password. That combination of three sets of data entered will unlock your account for you. Phishers who have your username and password will still need the secret digit.

The fob will cost just US$5, which is certainly a bargain compared to what you and 123 million other PayPal customers could lose if you’re unsavvy enough to fall for one of the agonizingly large number of scams floating around cyberspace these days. That US$5 fee, by the way, is a one-off deal. And if you have a business account with PayPal, they’ll send you a fob for free.