eBay brings two-factor authentication to the masses

PayPal adds two-factor authentication via PayPal Security Key

At eBay's annual conference, the company announced with PayPal the availability of its PayPal Security Key for its customers, which adds two-factor authentication for PayPal and eBay members. People can get the key for a promotional one-time fee of $5. The device generates a unique security code approximately every 30 seconds, eBay says. Members can use the code along with their username and password to sign into their eBay and PayPal accounts. The additional security is aimed at helping customers protect themselves from online fraud and phishing attacks, eBay says. The key is also part of the VeriSign Identity Protection Network, which means customers can use the device on several other financial services and e-commerce Web sites that participate in this network. Will this move by an e-commerce giant help move the concept of two-factor authentication forward? Or is this a minor move made by a company that's been hit with a lot of online fraud attacks?

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