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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →On June 15, 2007, eBay and PayPal announced the PayPal Security Key, a small physical token that generated a new sign-in code about every 30 seconds. Customers entered that rotating code alongside a username and password when signing in to PayPal or eBay. It was presented as two-factor authentication and as part of the VeriSign Identity Protection (VIP) Network.
That announcement describes a legacy hardware token, not the passkeys PayPal documents today. Modern PayPal passkeys are credentials stored on an eligible device and unlocked with the device’s biometrics, PIN, or password.
What PayPal announced in 2007
The joint eBay-PayPal announcement on June 15, 2007 described the Security Key as an additional sign-in factor. The token displayed a one-time code that changed approximately every 30 seconds. A customer used the current code with their normal username and password to access PayPal and eBay.
PayPal identified the device as part of the VeriSign Identity Protection (VIP) Network. The design addressed a basic weakness of password-only login: a stolen password would not be sufficient without the physical token’s current code.
#1 Best Overall
- POWERFUL SECURITY KEY: The Security Key C NFC is the essential physical passkey for protecting your digital life from phishing attacks. It ensures only you can access your accounts.
- WORKS WITH 1000+ ACCOUNTS: Compatible with Google, Microsoft, and Apple. A single Security Key C NFC secures 100 of your favorite accounts, including email, password managers, and more.
- FAST & CONVENIENT LOGIN: Plug in your Security Key C NFC via USB-C and tap it, or tap it against your phone (NFC) to authenticate. No batteries, no internet connection, and no extra fees required.
- TRUSTED PASSKEY TECHNOLOGY: Uses the latest passkey standards (FIDO2/WebAuthn & FIDO U2F) but does not support One-Time Passwords. For complex needs, check out the YubiKey 5 Series.
- BUILT TO LAST: Made from tough, waterproof, and crush-resistant materials. Manufactured in Sweden and programmed in the USA with the highest security standards.
“While PayPal.com remains a trusted and secure environment, the PayPal Security Key allows customers to take their privacy and security into their own hands to help protect their eBay and PayPal accounts against unauthorized access.”
— Michael Barrett, PayPal chief information security officer, June 15, 2007 announcement
How the Security Key sign-in worked
- Enter your PayPal or eBay username and password.
- Read the current six-digit-style code displayed by the physical token.
- Enter that code when prompted.
- The service checked the time-based code before completing sign-in.
Because the code changed roughly every 30 seconds, a code captured by someone else was intended to have only a short useful lifetime. The token was therefore different from a static backup code or a second password.
Rank #2
- PHISHING-RESISTANT 2FA: Cryptographically binds to real domains, making phishing attacks impossible unlike SMS codes or authenticator apps.
- 3-SIDE CAPACITIVE TOUCH: Tap the end, left, or right side to authenticate, so it works in any orientation or crowded USB port.
- MULTI-COLOR LED INDICATOR: Blue means ready, blinking blue means tap now, green means success, and red means error for instant status feedback.
- IP68 WATERPROOF & BATTERY-FREE: Crush-resistant one-piece construction survives daily carry on a keychain or in a bag for years without any batteries.
- UNIVERSAL COMPATIBILITY: Works with Google, Microsoft, Apple, GitHub, AWS, and any FIDO2 / U2F / WebAuthn service, storing up to 100 passkeys.
Security Key versus a current PayPal passkey
PayPal’s passkeys are a separate, device-based login method. They use a cryptographic key pair: the private credential remains on the user’s device, while the service keeps the corresponding public key. The user proves control of the device by approving a biometric check, device PIN, or device password.
| Aspect | 2007 PayPal Security Key | PayPal passkey |
|---|---|---|
| Credential form | Separate physical token generating a rotating code about every 30 seconds | Cryptographic credential stored on an eligible device |
| Sign-in action | Username and password plus the token’s current code | Select the passkey option and unlock or approve with the device’s biometric, PIN, or password |
| Where it is used | PayPal and eBay sign-in as described in the 2007 announcement | PayPal sign-in where the account, device, browser, and rollout support it |
| Biometric handling | Not part of the token-based method | PayPal says biometric data is not shared with PayPal |
| Recovery | Required access to the token, in addition to the password | Password or one-time-passcode sign-in can remain available if the device is lost or stolen; PayPal may require extra authentication |
When PayPal introduced passkeys
Initial Apple rollout
PayPal’s October 2022 announcement introduced passkeys as a login method, initially for Apple-device users on PayPal.com. That was an announcement of the rollout at that time, not a promise that every Apple account or region would be eligible.
Android rollout
On March 23, 2023, PayPal described passkey availability for eligible users in the United States using Android 9 or later through Chrome’s mobile web experience. The statement was a dated rollout snapshot; device, browser, account, and regional eligibility can change.
Rank #3
- HARDWARE 2FA AND MFA: FIDO Alliance Certified FIDO2 v2.1 with CTAP2 plus legacy U2F and CTAP1 for strong two-factor login and passwordless sign-in on services that support security keys
- BUILDING ACCESS ON ONE CARD: MIFARE DESFire EV2 4K applet with AES encryption adds office door and physical access control alongside digital authentication
- CERTIFIED SECURE ELEMENT: An NXP Common Criteria EAL6+ certified secure controller and Java Card platform protects your keys on a tamper-resistant chip
- DUAL INTERFACE SMART CARD: Contactless NFC ISO 14443 plus ISO 7816 contact reader support in an ISO 7810 ID-1 format that is passive and needs no battery
- SWISS ENGINEERED DESIGN: Built by Cryptnox as a single card for authentication and access control and backed by a 2 year warranty
Regional availability
PayPal also published a June 13, 2023 release describing a rollout example in the Asia-Pacific region. These announcements should not be read as a complete current geography or compatibility list. PayPal’s live help and account settings are the appropriate places to check eligibility.
How to log in to PayPal with a passkey
- Open PayPal in a supported browser and choose the passkey sign-in option when it is offered.
- Approve the request using the same biometric, PIN, or device password used to unlock the device.
- Complete any additional verification PayPal requests.
The exact prompt and availability depend on the account and supported device/browser setup. If a passkey is unavailable, PayPal documents password or one-time-passcode sign-in as an alternative. Losing a device does not necessarily lock an account permanently, but account-recovery checks may still be required.
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Does PayPal still sell the 2007 Security Key?
The 2007 announcement establishes what the token was and how it worked. It does not establish that the physical token remains available for purchase today. The available PayPal material also does not confirm that a generic external FIDO hardware key can be registered as a PayPal passkey.
Rank #4
- POWERFUL SECURITY KEY: The Security Key NFC is the essential physical passkey for protecting your digital life from phishing attacks. It ensures only you can access your accounts.
- WORKS WITH 1000+ ACCOUNTS: Compatible with Google, Microsoft, and Apple. A single Security Key NFC secures 100 of your favorite accounts, including email, password managers, and more.
- FAST & CONVENIENT LOGIN: Plug in your Security Key NFC via USB-A and tap it, or tap it against your phone (NFC) to authenticate. No batteries, no internet connection, and no extra fees required.
- TRUSTED PASSKEY TECHNOLOGY: Uses the latest passkey standards (FIDO2/WebAuthn & FIDO U2F) but does not support One-Time Passwords. For complex needs, check out the YubiKey 5 Series.
- BUILT TO LAST: Made from tough, waterproof, and crush-resistant materials. Manufactured in Sweden and programmed in the USA with the highest security standards.
Do not buy a third-party security key on the assumption that it will work with PayPal. Check PayPal’s current security settings and help documentation for your account before purchasing hardware.
What PayPal says about passkey results
In a January 23, 2025 PayPal article, Rakan Khalid, Senior Director of Identity Product at PayPal and a FIDO Alliance board member, said the company planned to accelerate passkey availability during 2025. He cited a company-reported “10%+ increase in login success rate with Passkeys compared with traditional password methods.” That figure is PayPal’s own measurement and should not be treated as independent research or as a guarantee for every user.
Bottom line for readers searching for the Security Key announcement
PayPal’s Security Key was a 2007 physical, time-based token used with a password. PayPal’s current passkeys are a different, device-held credential approved with a biometric, PIN, or device password. Historical rollout announcements do not prove present eligibility, and current sources do not verify continued sales of the old token or compatibility of generic hardware keys. Use PayPal’s live account settings and help pages to determine which sign-in methods your account supports.
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