To find out whether you have early access, check the PayPal Key setup page:Ĭlick “Set It Up Now.” If you see the following notice, it means you’re not eligible for the service (at least not yet): How does PayPal Key work?Īs a brand new product, PayPal Key isn’t currently available to all PayPal users, though it will be rolled out to more customers in the future. Tip: Because PayPal Key isn’t a traditional credit card, you won’t have to fill out a separate application or incur a hard inquiry on your credit report. The service doesn’t charge any setup or usage fees, either. – even if the merchant doesn’t accept PayPal as a payment method at checkout. PayPal Key also gives you the ability to shop at any retailer that accepts Mastercard – including those based outside of the U.S. It’s similar to the virtual account numbers issued by Eno, Capital One’s virtual assistant, or those generated by the Token app. PayPal Key is a virtual account number connected to your PayPal account that you can use when making payments online or over the phone.Ī virtual card such as PayPal Key hides the real details associated with your payment account, providing an extra layer of protection against fraud and identity theft while you shop. See related: Is PayPal safe? What is PayPal Key? Its latest service, PayPal Key, offers another way to protect yourself against cybercriminals the next time you click “Place Your Order.” Here’s what you need to know. Since its founding in 1998, PayPal has become practically synonymous with digital payments. That’s where virtual credit cards can come in handy. The digital payments industry has seen significant growth as the coronavirus pandemic accelerates the shift to online shopping, which makes it easier for us to get the things we need – safely and from the comfort of home.īut while contactless payments keep you safe from germ-laden credit cards and cash, shoppers remain susceptible to other kinds of danger online, including fraud.
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January 2023
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