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Paypal Key

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Paypal Key

I would like to sign-up for Paypal Key, the new virtual CC account payment option. I've previously used this with Citi CC but they have removed this feature from the CC I use with them. 

Does anyone know how to enable/apply for Paypal key or is it invitation only?

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Contributor

Re: Paypal Key

Invitation only.  Just received mine today.   Not what I expected.   Like you, I was a CitiBank virtual account number user.   

 

The problem with PayPal Key, is it's JUST one number.   It doesn't provide the ability to generate MULTIPLE virtual account numbers with amount limits and expiration dates.   It's just ONE number.   

 

So, what happens if someone gets access to your Paypal key number?   What's to stop them from having a field day, which they would do if they had your actual credit card number?   Finally, does Paypal offer liability protection like Citibank??   I wouldn't think so.    Believe you would still be dependent on Citibank's Fraud department.

 

So really i don't see the value unless I'm missing something, which I rarely do (sorry that was a bit arrogant).   I plan on deleting the key and just using my Citibank card, unless someone can explain the value.

 

Thanks

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4 REPLIES 4
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Contributor

Re: Paypal Key

Invitation only.  Just received mine today.   Not what I expected.   Like you, I was a CitiBank virtual account number user.   

 

The problem with PayPal Key, is it's JUST one number.   It doesn't provide the ability to generate MULTIPLE virtual account numbers with amount limits and expiration dates.   It's just ONE number.   

 

So, what happens if someone gets access to your Paypal key number?   What's to stop them from having a field day, which they would do if they had your actual credit card number?   Finally, does Paypal offer liability protection like Citibank??   I wouldn't think so.    Believe you would still be dependent on Citibank's Fraud department.

 

So really i don't see the value unless I'm missing something, which I rarely do (sorry that was a bit arrogant).   I plan on deleting the key and just using my Citibank card, unless someone can explain the value.

 

Thanks

View solution in original post

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Contributor

Re: Paypal Key

One possible advantage.   It would depend on whether or not Citibank's Fraud department KNEW that the number stolen was the PayPal Key.  If they KNEW it was the PayPal Key number, they might NOT have to issue you a new Credit Card.   You would only have to delete the PayPal Key and generate a new one.

 

PAYPAL please weigh in here, this is important.   And if what I've said turns out to be true, then please put that on your description of what PayPal key is.  Thanks.

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New Community Member

Re: Paypal Key

I've got the exact same question!  Why is someone stealing my singular Paypal Key virtual number any better than stealing an actual credit card number?  How do I know that Paypal's fraud department will a) catch fraudulent use and b) resolve it with minimal issue before someone runs up huge charges on my account?  And will I run into issues getting bounced back and forth between Paypal's fraud department and my bank's?  This seems more complicated for very little gain.

 

Can someone from Paypal please respond so we have an understanding of why Paypal Key is even worth using?

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New Community Member

Re: Paypal Key

Same question here! Wish someone at PayPal would answer