- PayPal Holdings, Inc (NASDAQ:PYPL) added passkeys as an easy and secure login for PayPal accounts.
- Passkeys are a new industry standard created by the FIDO Alliance and the World Wide Web Consortium that replace passwords with cryptographic key pairs.
- The new PayPal login option will first be available to Apple Inc (NASDAQ:AAPL) iPhone, iPad, or Mac users on PayPal.com and expand to additional platforms as those platforms add support for passkeys.
- Also Read: PayPal Analyst Sees Narrowed Product Focus, Opex Optimization Driving Upside
- Doug Bland, SVP and GM, Head of Consumer, said, “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 passkeys will start rolling out today to customers in the U.S. PayPal passkeys will become available in additional countries early in 2023.
- PayPal walked back a change it published to its acceptable use policy (AUP), which would have allowed PayPal to debit users $2,500 for spreading “misinformation.”
- PayPal said the AUP was published in error and contained incorrect information.
- Price Action: PYPL shares traded lower by 2.2% at $82.09 on the last check Monday.
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