According to a Sony support worker, Australia and New Zealand will finally be getting 2-step verification on PS4 later tonight or tomorrow morning, with the plan to roll it out to other regions next week.

2-step verification has been spoken about for a long while by PlayStation. It is much needed as PSN accounts are a well-known target for hackers.

It will essentially work as an SMS service. You will need to put your mobile number on your account and any new login will require a code that will be SMS’d to the number on the account.

Anything that isn’t a PS4 will work a little bit differently. PS3/Vita will use a “Device Code” which will be an additional password that you can have for the account in addition to your actual password.

Lets hope that it is finally rolling out in the near future, as account hacking has become a real issue on PS4.

http://press-start.com.au/news/playstation/2016/08/15/ps4s-2-step-verification-reportedly-coming-australia-first/

Yep, finally.

Next up, let us change PSN names. You can even charge for it, Sony!

It's about time Aussies got something first I guess!

Finally. Still won't put my credit card on PSN tho

Great news. Much needed feature

Good news if true.
By the way, the picture in the OP is highly misleading, that's been in since launch to protect your user profile http://www.tech-recipes.com/rx/46250/ps4-how-to-set-up-a-local-passcode-for-a-user-profile/

Perhaps they could mail out the auth code to you?

I doubt it will be mandatory to use the 2-step verification. Personally I see no need for this either, my passwords are very safe.

A single password can always be brute forced eventually if someone is determined enough, 2 step authentication makes the chances of anyone getting into your account almost nil unless you mess up and leave your phone get lifted on you. (or whereever you have the authenticator) My blizzard account is minded by the battle.net authenticator which I have on my keyring, chances of someone getting access to my account they would have to actually mug me on the street first.

Also @Ka-pi96 I don't think any company has made 2 factor authentication manditory for their customers, it's just there as an option if you want it (although in WoW you can set it up so that higher ranking members of a guild require authenticators be on their accounts so that if they do get hacked the game will auto demote them to a rank where they cannot damage the Guild, it's a handy system to protect a Guild)