PayPal is the first payment service to adopt passkeys. This cutting-edge authentication method is “faster, easier, and more secure” than passwords. It is expected to be the standard for most online platforms by 2023. For now, this login method is only available to iPhone, iPad, and Mac users in the U.S. PayPal said it will make it available in other countries early in 2023 and on different devices “as those platforms add support for passkeys.” “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,” PayPal’s SVP and GM, Head of Consumer, Doug Bland, said.
Secure Payments With Passkeys
Passkeys eliminate the need for passwords. Once you create a passkey, you can log in to your PayPal account the same way you’d unlock your phone — using biometric information, drawing a pattern, entering a PIN, or using voice commands. “Once created, passkeys are synched 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,” PayPal explained in its press release. To opt for this login method, click “Create a passkey” when logging into your PayPal account. Once you create a passkey, you can even log in to PayPal on devices that don’t support passkeys by scanning a QR code. “The FIDO protocols are designed from the ground up to protect user privacy. The protocols do not provide information that can be used by different online services to collaborate and track a user across the services. Biometric information, if used, never leaves the user’s device,” FIDO explains on its website.
A Passwordless Future
In May, Apple, Microsoft, and Google announced plans to adopt the FIDO authentication standards created by the World Wide Web Consortium and the FIDO Alliance. The three tech giants demonstrated their passkey prototypes at FIDO Alliance’s Authenticate 2022 Conference last week in Seattle. Apple’s iOS 16 and iPadOS 16.1 updates include support for passkeys, and it will also be added to the upcoming macOS Ventura update. Google and Microsoft have not announced plans for full-scale implementation of the FIDO standards. “The new capability will allow websites and apps to offer consistent, secure, and easy passwordless sign-ins to consumers across devices and platforms,” FIDO said in May. The use of cryptographic passkeys in lieu of passwords eliminates the cybersecurity risks associated with traditional passwords, including login fatigue, credential swiping, and phishing scams. A recent report revealed that over 50 percent of passwords are reused in North America, and 20 percent of them are compromised. With a passkey, you do not have to create or remember long, complicated passwords. Until passwordless login becomes the standard globally, it is essential to protect your accounts with an impenetrable password. You can learn how to create one in our article about secure passwords.
