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Business - Finance - News

PayPal introduces Passkeys

PayPal has activated Passkeys, a log-in method that will make secure payment easier for both users and merchants and will solve the problem of forgetting passwords.

Tuesday, October 25, 2022

PayPal introduces Passkeys

PayPal introduces Passkeys - Photograph by Courtesy of PayPal

Business
Finance - News

Melisa Kaya

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Recent research reveals that 44% of U.S. consumers give up on purchasing because they can't remember their passwords at the online order checkout step. Accordingly, PayPal introduced the Passkeys log in method, which does not require remembering a password.

Passkeys, which is expected to be the new industry standard created by the FIDO Alliance and the World Wide Web Consortium, is currently only suitable for iPhone, iPad, or Mac users, and will soon be expanded and activated on other platforms.

Passkeys will both accelerate the shopping process, increase the rate of successful transactions, and eliminate the security weakness experienced because many users use the same passwords on many systems.

iOS 16, iPadOS 16.1, or macOS Ventura operating system users who want to use the Passkeys method will be able to create their Passkeys using the Create a passkey option after logging in to PayPal with their existing username and password. When they authenticate with Apple Face ID or Touch ID, the system will be activated automatically, and they will be able to make their next purchases both quickly and securely by using Passkeys.

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