Based on open standards, the VIP Authentication Service is a two-factor authentication solution fully hosted by VeriSign that enables a wide choice of credentials including standalone tokens, credit card sized devices and mobile phones. The VIP Authentication Service is deployed on a VeriSign hosted network, which means consumers can use a single security device to authenticate themselves across any VIP-enabled Web site. By leveraging a shared security and logistics infrastructure, VIP makes it simpler and more cost-effective for companies with extensive online presence to implement stronger authentication. For organizations, membership in the VIP Network helps distribute the costs of strong authentication, thus accelerating its inevitable acceptance in the global marketplace.
"Until now, the industry has approached two-factor authentication in a non-cost effective, silo-ed fashion that is not conducive to consumer adoption," said Fran Rosch, vice president of identity and authentication services at VeriSign. "VeriSign is making the investment to aggressively seed the market with credentials, which puts the focus on a shared network to make it quick, easy and inexpensive for organizations to provide two-factor authentication to consumers."
"Organizations with significant consumer franchises are under pressure to protect their users from identity theft and fraud, and authentication networks like VIP can help reduce these B2C risks," said Andrew Jaquith, program manager of Security Research at Yankee Group. "Promotional programs like VIP Quick Start speed time-to-value and make joining an authentication network a low-risk proposition."
Around the world, leading online businesses have joined the VIP Network to provide their customers with an additional layer of protection -- one that goes beyond standard secure log-ins. Two-factor authentication, in fact, has reached a tipping point in the marketplace, with next-generation offerings like VIP making it easy for companies to implement the safeguard and simple for consumers to use it. VIP service uses a special security credential that provides Internet users with a one-time password (OTP) for every transaction. During an online transaction, this OTP is entered into a user interface with other information (such as user name and static PIN), achieving two-factor authentication.
At the RSA Conference next week, VeriSign will also distribute VIP credentials free to consumers who activate their credential at the VeriSign booth. Available on a first come, first served basis at the VeriSign booth (No. 1316), the tokens will allow individuals to authenticate themselves at any VIP Network member site, including eBay and PayPal. For more information about the Quick Start Program, please call 650-426-5310.
VeriSign, Inc. (
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services, including VeriSign Identity Protection Services, the possibility that VeriSign's announced new services may not result in additional customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2006 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
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