PayPal introduces further payment security

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PayPal introduces further payment security

Online payment service PayPal has introduced a further security step for users to protect them while making transactions over the internet.

The Security Key code is an additional log-in which users can request, to be used in conjunction with their usernames and passwords.

Delivered by SMS, the optional code is free of charge, excluding the network provider's cost of sending a message, though an electronic token can be provided at a cost of £3.

This token updates with a new security code every 30 seconds.

Commenting on the new development, PayPal UK's head of risk management Garreth Griffith said that Security Key can provide extra reassurance.

"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," he continued.

A survey by PayPal recently discovered that security is the main concern for people using retail websites, with 84 per cent seeking safety features when buying online.

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