Main » TERM » P » PayPal SMS Security Key
By Vangie Beal
A service that enables
PayPal customers to use their
mobile phones to authenticate transactions through a service that lets customers use
SMS messaging to get a randomly generated access code to log into their accounts. The PayPal SMS Security Key is an extension of PayPal's current Security Key service, which uses a
hardware token. However, unlike the current service, which charges customers $5 for the token, the new service is free. Customers will have to pay their carriers' charges for SMS services.
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