PayPal two-factor authentication became available to users in far 2007. Everybody wishing to protect their PayPal login could order a $5 security token directly from their account.
Unfortunately, later the company discontinued the use of its own hardware tokens in favor of SMS-based authentication, decreasing PayPal security considerably. But the situation with PayPal two-factor authentication is changing once again, for the better now:
- Since 2018, you can use MFA applications to log into PayPal (Google Authenticator, Protectimus Smart, etc.)
- As MFA apps are available, it’s also possible to use hardware security keys again. There’s just one catch — only programmable hardware tokens like Protectimus Slim NFC will fit for PayPal two-factor authentication.
How do I enable PayPal 2FA?
To activate two-factor authentication in PayPal sign in your account and navigate to the settings menu.
Choose the Security tab.
In the “2-step verification” section, click Set Up.
At this point, you’ll need to choose one of the available two-factor authentication methods: SMS or MFA application. Programmable hardware tokens can be linked with PayPal as MFA applications.
- SMS. When you choose SMS authentication, you’ll need to provide a real phone number. You’ll instantly receive a message containing a PayPal security code to confirm the number is correct. We don’t recommend using SMS if you’re able to set up a 2FA app instead or order a hardware token for use with PayPal.
- 2FA app. Choose this option if you want to link an in-app PayPal authenticator, or the Protectimus Slim NFC — programmable PayPal security key.
- If you haven’t already installed a one-time password generator app, install a free app Protectimus SMART OTP or any other 2-factor authentication app.
- If you want to use a hardware security token, you’ll need to already have one at this point. It must be a programmable TOTP token — Protectimus Slim NFC or a similar one. The process to link a programmable hardware token to PayPal is no different than the process of linking a two-factor authentication app. To set up the token, you’ll need an Android smartphone that supports NFC.
At this point, you’ll see a QR code containing the secret key. Scan this secret key using a two-factor authentication app, or using the Protectimus TOTP Burner app if you’re linking a hardware PayPal security key Protectimus Slim NFC. If you aren’t able to scan the QR code, you can input the secret key manually.
You’ll find detailed instructions for programming the secret key into the Protectimus Slim NFC token here.
To finish setting up PayPal 2-factor authentication, generate a one-time password with your token and enter it in the provided field.
Create a backup token. If you lose access to your current token, you can restore access to PayPal with your backup token. Remember that if you choose SMS authentication for backup, your PayPal account login will be less secure, even if you linked a hardware security key in the previous step. The best option is to use a hardware token as your main means of authentication and a 2FA PayPal app as a backup, or the other way around.
Continue reading on Protectimus Blog: https://www.protectimus.com/blog/paypal-two-factor-authentication/