Yahoo to Launch New Service that Eliminates Passwords

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Yahoo (NASDAQ: YHOO) plans to ramp up password security by eliminating them altogether. The company announced that starting Thursday, its Mail app on Android and iOS devices would have access to Yahoo Account Key, a new service. Yahoo Account Key uses smartphones to verify the identity of users without them having to enter a password.

Once users sign up for Account Key, they will be able to access Yahoo Mail without ever having to enter a password. Instead, the service sends a message to the smartphone that is connected to the account. All users have to do is tap “yes” or “no” to authorize or deny access to the account.

If connected smartphones arelost or stolen, users can verify their identities through text or email sent to an alternative number or account.

Dylan Casey, VP of product management, stated that Account Key is far more secure than a password because it does not allow anyone to sign in and access the account without first being verified by Account Key.

In addition to this new service, Yahoo announced a revised version of Yahoo Mail that lets users connect to Hotmail, Outlook and AOL emails while simultaneously being signed into their Yahoo account.

Yahoo stock is up 2.31% Thursday on news of the service launch.

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