New VeriSign® Identity Protection (VIP) Network
Members to Receive Free Credentials
VIP Quick Start Program Paves Way for Faster Industry Adoption of
Consumer Two-Factor Authentication
Mountain View, Calif. – April 2, 2008 – VeriSign, Inc. (NASDAQ:
VRSN), the trusted provider of Internet infrastructure services for
the networked world, today announced a new promotion inviting organizations
to join the VeriSign Identity Protection (VIP) Network, thus delivering
stronger Internet security to consumers for their online transactions.
Now through Sept. 30, the VIP Quick Start Program will provide up to
5,000 free credentials to new organizations that join the VIP Network.
VeriSign announced the new promotion as the IT security industry prepares
to gather in San Francisco next week for the annual RSA Conference.
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 or go to www.verisign.com/quickstart
About VeriSign
VeriSign, Inc. (NASDAQ: VRSN) is the trusted provider of Internet infrastructure
services for the networked world. Billions of times each day, VeriSign
helps companies and consumers all over the world engage in communications
and commerce with confidence. Additional news and information about
the company is available at www.verisign.com.
Contacts
Media Relations: Christina Rohall, crohall@verisign.com,
650-426-5219
Investor Relations: Nancy Fazioli, ir@verisign.com,
650-426-5146
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.
©2008 VeriSign, Inc. All rights reserved. VeriSign,
the VeriSign logo, the checkmark circle, and other trademarks, service
marks, and designs are registered or unregistered trademarks of VeriSign,
Inc., and its subsidiaries in the United States and in foreign countries.
All other trademarks are property of their respective owners.
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