Friday, June 15, 2007

PayPal, eBay Intro Two Factor Authentication

PayPal, the online personal payments firm, and eBay, Inc. said today at eBay's annual conference that the two are teaming up to make a two-factor, security key available to the firm's customers. The new electronic token, using technology typically used by high end enterprise authentication systems, displays a unique security code which can be used by members to sign into both eBay and PayPal. eBay and PayPal said that the key will be made available for $5.00 to their members. Two factor authentication is typically used by financial institutions and enterprise security systems to provide a unique way to identify users; a unique sequence of codes are displayed on the electronic tokens which are unique to a user's login.