The world of payments is evolving into a more digital and contactless form. Whereas consumers enjoyed the human interaction part of the payment process up until a few years ago, they now want everything to be quick and frictionless. PayPal is trying to establish themselves as a player in this segment by introducing their One Touch payment solution. Unfortunately, this is not an innovative feature per se, although it might make things slightly more convenient.
Also read: Big Banks Leave Thousands Unbanked in New York City: Bitcoin Can Help
PayPal One Touch – Convenience Security Don’t Mix Well
On the surface, PayPal One Touch sounds like a pretty solid solution for facilitating payments through the platform. What One Touch does is allowing PayPal users to pay automatically for subsequent orders after their first login, without having to go through the login process itself every time. In a way, this would tie the device used for the payment to the owner, and use it as some form of authentication.
However, this also creates a major security risk for PayPal users. Forcing users to log in just once
Read more ... source: TheBitcoinNews
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