This drove me crazy for entirely too much time, so once I figured it out, I thought I should share it. This would be a good update to the documentation

It appears that PayPal recently reorganized their site so the documented procedures for the PayPal token you require to set up the PayPal gateway is wrong (at least on my PayPal account). Here is how to find your Paypal Identity Token.

1. Log into your PayPal account.
2. Make sure you have a business account. On your My Account | Overview page, under your name, it should have a field named "Account Type" which should indicate business not personal.
3. On the Account Overview page, on the right-hand side you should see a section named "Account Tools". Click "My Business Setup".
4. In the "Customize My Buyer's Experience" section, click Customize.
5. Under "Auto Return", click Edit.
6. Find "Payment Data Transfer (optional) section and enanble it (On).
7. The token appears below this setting. Copy this wherever you need to use it.
8. Scroll to the bottom of this page and click Save.