Also paypal finds passwords an outdated and too insecure authentication method. The payment platform introduces password by the end of the year, but only in the US at the beginning.
Passkey is an initiative of the FIDO Alliance and is intended to overcome password authentication, with all its – well-known – limitations. Unlike passwords (which can be lost or given away unknowingly), Passkey is described as a “phishing-proof” system.
Passkey is available to US users who use iPhone, iPad, and Mac. The model will also be exported outside the US once the passkey becomes available to users in the rest of the world.
But how does the access code work? You need an iPhone, iPad, or Mac that has been updated to iOS 16, iPadOS 16.1, and macOS Ventura. Authentication is very simple and solves the headache associated with passwords: you authenticate yourself using biometrics, such as: Face ID or Touch ID.
THE biometric data automatically generate a password. The next time you sign in, your password will be automatically saved to iCloud Keychain. Passkey could solve the fraud problem, at least remotely.
Barring vulnerability (unlikely but not improbable hypothesis) or physical threat to the user, illegal access to someone else’s PayPal account becomes virtually impossible.
Source: Lega Nerd
