PayPal is making a significant move away from passwords, allowing users to log into their accounts using a new industry-standard passkey.
Developed by the FIDO Alliance and the World Wide Web Consortium, passkeys utilize cryptographic key pairs—one public key stored in the cloud and a private key stored on the user’s device. Initially available on Apple devices, existing customers who log in to PayPal via a browser on desktop or mobile will have the option to “create a passkey.”
Once they decide to set this up, customers will authenticate using Apple Face ID or Touch ID. After the passkey is automatically created, they can log in without the need to remember or manage a password in the future.
PayPal emphasizes that passkeys offer enhanced security compared to traditional passwords and provide a more user-friendly experience. Doug Bland, SVP and GM, head of consumer at PayPal, expressed excitement about offering customers a seamless checkout experience that reduces the risks associated with weak or reused credentials, while also alleviating the hassle of remembering passwords.