For you as a business a new regulation introduces changes to how you log into your PayPal business account. In order to access your PayPal business account after March 31st 2020, you will need to ensure you have an up-to-date mobile phone number associated to your account.
Update your mobile numberKnowledge: Something only you know, like a password.
Possession: Something you have like a one-time only code generated by SMS, or a trusted device that you are using.
Inherence: Something that is unique to you, like a fingerprint or your voice.
In many cases at least two of these will be required in order to process a payment.
What changes will I see when using PayPal?
Most of the time you will be able to login or pay with PayPal by just entering your email address and your PayPal password as usual. But from time to time, we may ask you for a One-Time Passcode that PayPal will send you by SMS on the phone number you have registered in your profile. This is one of the methods that helps us to identify you if we have doubts about your identity or regulations require us to apply 2 factor authentication and no other methods are available.
What do I need to do?
When will I need to enter this code? Do I need to do it every time I log in or pay?
Where can I get this additional code? Isn’t it the same as my PayPal password?