The PayPal Security Key is free to business accounts but a $5.00 service fee will be issued to personal accounts. These accounts require users to enter a randomized six-digit code in correspondence with their username and password. Aimed at protecting consumers and members from fraud, the PayPal Security Key is currently in beta testing by PayPal employees. It will go into public testing in the next few months.

The key itself calculates a numeric password every thirty seconds, making the feature useful as the keys are designed for one use only. This type of security is already in place at several financial firms across the United States.