<p>- PayPal launches innovative security service via text message -</p>

<p>PayPal’s customers in the UK can now opt for an extra layer of security to help keep them even safer online. The PayPal SMS Security Key texts a unique security code to the customer’s mobile phone for them to use to log in to their account, in addition to their usual username and password. It will give further reassurance against online fraud, especially for customers who use shared computers. </p>

<p>To sign up for the optional SMS service, which comes at no extra cost to the user except for their mobile provider’s standard text messaging charges, customers should visit <a href="http://www.paypal.co.uk/securitykey">www.paypal.co.uk/securitykey</a&gt; .></p>

<p>This type of extra security, known as two-factor authentication, is used by several UK financial institutions to protect consumers against online fraud such as phishing attacks. However, most require customers to have the bank’s own security token with them when they log in to their account or carry out certain transactions or account changes. PayPal’s SMS version has the advantage that customers who have a mobile phone don’t need to carry an extra device with them and can start using the service within minutes. </p>

<p>PayPal is also offering a physical security token costing £3 for those who prefer this to an SMS service. </p>

<p>Security Key SMS
<br />• Customer clicks ‘Send SMS’ button when logging in to account.
<br />• Code received via SMS.
<br />• User enters this code along with their normal user name and password.
<br />• The code then expires and no-one else can use it.
<br />• The SMS Security Key is provided at no extra cost to PayPal users.*</p>

<p>Security Key Token
<br />• An electronic device – or “token” – designed to be carried on a key ring.
<br />• Creates a new security code every 30 seconds
<br />• User enters this code along with their normal user name and password.
<br />• The code then expires and no-one else can use it.
<br />• The Security Key token costs £3, with no monthly service fee or additional costs.</p>

<p>Garreth Griffith, Head of Risk Management at PayPal UK comments, “PayPal has always taken online security very seriously and is famous for not sharing customers’ financial information. As a result, successful fraud attacks on PayPal accounts are very rare. But we know that some people want extra reassurance, and that’s what the PayPal Security Key will offer. It’s like a combination lock for your account – designed to let you in and keep others out, with the extra safeguard that the combination always changes.</p>

<p>“Offering the Security Key via text message is really important as we want to make it as quick and convenient as possible. You just need your mobile phone to use it, saving the hassle of carrying another gadget around with you.” </p>

<p>The PayPal Security Key is part of the VeriSign Identity Protection Network.</p>

<p>PayPal works closely with the internet industry in the fight to keep consumers safe from phishing and cybercrime. PayPal is a partner in the UK’s internet safety awareness initiative, Get Safe Online (<a href="http://www.getsafeonline.org">www.getsafeonline.org</a&gt;). PayPal works with internet service providers to stop fraudulent emails from reaching consumers: Yahoo! Mail and Google’s webmail service Gmail™ both block emails wrongly claiming to be from eBay and PayPal from reaching their customers.</p>

<p>For further information please contact:</p>

<p><a href="mailto:paypal@lansons.com">paypal@lansons.com</a>
<br />020 7566 9777
<br />Sophie Lilley / Helen Thomson / Laura Moss / Louise Bromley / Paul Crayston - Lansons Communications</p>

<p>Notes to editors
<br />* Mobile providers may apply separate standard receiving charges for text messages - users should check with their mobile providers for further details.</p>

<p>About PayPal
<br />PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 70 million active accounts in 190 markets and 19 currencies around the world, PayPal enables global ecommerce. </p>

<p>PayPal Europe S.àr.l. et Cie S.C.A. is a Luxembourg-based limited liability partnership, which is regulated by the Commission de Surveillance du Secteur Financier (‘CSSF') in Luxembourg. PayPal Inc is the ultimate parent of PayPal Europe S.àr.l. et Cie S.C.A. and is 100% owned by eBay Inc. PayPal Inc was set up in the US in December 1998 and acquired by eBay Inc in 2002. </p>

<p>More information about the company can be found at <a href="http://www.paypal.co.uk">www.paypal.co.uk</a&gt; or <a href="http://www.paypal.co.uk/press">www.paypal.co.uk/press</a></p&gt;


Published on: 2:00AM on 26th January 2009