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Starting November 2nd 2022 Shopify Payments will require all store owners to enable Two-Step Authentication for Shopify Payments. This is to increase account security and prevent account takeover by fraudsters, resulting in stolen payouts.
If you have not already enabled Two-Step authentication you will see a yellow banner in your admin home page asking you to complete the set up. As well you will receive an email about Two-Step authentication.
Two-Step Authentication (2SA), also referred to as multi factor authentication, makes it much more difficult for an unauthorized person to access your account. It requires you to enter your account credentials (email and password), then confirm your attempt to log in using a mobile device or a security key.
Data shows that enabling Two-Step Authentication can prevent 99.9% of account compromises as most breaches are caused by lost or stolen account information. Adding this extra layer of security will reduce the likelihood of a compromised account resulting in payouts being redirected to fraudulent bank accounts.
If you believe your account has been compromised or want to take precautions to prevent a compromised account here are some steps you can take:
You can also use the website haveibeenpwned.com to see if your email or phone number has been detected in a data breach.
If you would like to learn more about Two-Step Authentication and how to enable it, please review our help center article.
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