PayPal has officially announced the support of passkeys, as the company wants to increase the security of user accounts and therefore provide customers with a more secure method of logging in.
Stepping away from passwords is something that many tech companies are trying to do these days, and as a founding member of the FIDO Alliance, PayPal is obviously one of the big names investing in this direction.
Numbers cited by PayPal show that 81 percent of the 2.6 billion hacked records in 2017 were powered by password stealing and guessing. As a result, replacing passwords with a more secure way to log in is essential, especially given PayPal offers financial services.
“Passkeys will also help more consumers complete their purchases with PayPal – once PayPal users create a passkey, they won’t have to remember their password, allowing them to check out with greater ease. According to a recent survey of U.S. consumers, 44% of consumers have abandoned an online purchase be…
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