UPDATE: Paypal has reached out to Pulse over this report to clear up the confusion to this story. Read their statement below...

We have no plans to develop injectable or edible verification systems.  It's clear that passwords as we know them will evolve and we aim to be at the forefront of those developments. We were a founding member of the FIDO alliance, and the first to implement fingerprint payments with Samsung. New PayPal-driven innovations such as one touch payments make it even easier to remove the friction from shopping. We’re always innovating to make life easier and payments safer for our customers no matter what device or operating system they are using.

-----------------------------------------------------------------------------Online payment platform, PayPal, is taking the password game up another notch. A couple of notches actually.

Daily Beast reports that PayPal is apparently concerned about its customers who constantly have trouble remembering passwords to make use of its services.

So it has come up with a solution – a microchip in a pill, which individuals will swallow and it will then give them unrestricted access to PayPal’s services without having to type passwords.

The microchip function like an electronic card except that instead of swiping, PayPal gets a signal from the microchip every time you attempt to make use of PayPal’s services and logs you in automatically instead of asking you for your password.

There have not been any certified reports on the viability of this report but it’s an interesting development to look out for.