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VeriSign Introduces Merchant Payment Services Platform for International Service Providers
Nine Payment Affiliates Expand VeriSign Payment Services to Asia, Australia, Europe, North America and South America
Mountain View, CA, October 22, 2001 - VeriSign, Inc. (Nasdaq: VRSN), the leading provider of digital trust services, today introduced a payment services platform that enables international service providers to deliver co-branded online payment services to merchants in international markets. Merchants worldwide will now be able to securely process payments online through VeriSign's trusted payment services infrastructure.
In conjunction with this announcement, nine international service providers including CIBC, eSign, Firstream, Paymon, TrustAsia, and VeriPay among others will be the first affiliates to deploy the platform in their respective regions. Broad coverage includes Asia, Australia/New Zealand, Europe, North America, and South America.
Powered by an infrastructure that processed 43 million transactions worth an aggregate US $2 billion for more than 50,000 domestic merchants in the third quarter 2001, VeriSign's new payment services platform will give affiliates the ability to provide secure payment processing to merchants in their area. The platform provides:
"Merchants around the world share a common need: a payment solution that provides real-time connectivity to regional payment processors" said Anil Pereira, Senior Vice President and Group General Manager, Enterprise and Service Provider Division, VeriSign. "We selected nine new affiliates to supplement our payment platform with their core competencies to provide a superior service to merchants worldwide."
VeriSign affiliate eSign will deliver payment services to the growing online merchant base in Australia. "Consumers and merchants worldwide want to buy and sell products safely online. That's why VeriSign is expanding its trusted payment services into the global marketplace, providing protection and integrity at all points in the payment process," said Gregg Rowley, managing director for eSign Australia Limited.
According to a Gartner Group study, more than half of adults who buy on the Web report they are not comfortable entering personal financial information. Establishing trust has become an essential component of building a storefront for merchants.
Offering both payment connectivity and online security, VeriSign provides merchants worldwide with a one-stop shop for all of their online commerce needs. In addition to the VeriSign payment services, VeriSign digital certificate services provide a trusted transaction framework by enabling consumers to verify a merchant's identity before submitting their payment. VeriSign launched its first global network of affiliates to deliver co-branded digital certificate services in 1999 and today there are 37.
About VeriSign
VeriSign, Inc. (Nasdaq:VRSN) is the worldwide leader in providing digital
trust services that enable everyone, everywhere to engage in commerce
& communications with confidence. Digital trust services create
a trusted environment through three core offerings - web identity, authentication
and payment services - powered by a global infrastructure that manages
more than 5 billion network connections and transactions a day. Additional
news and information about the company is available at www.verisign.com.
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, VeriSign's limited operating history under its current business structure, failure of the Illuminet merger to close due to the failure to obtain regulatory or other approvals; failure of the Illuminet stockholders to approve the merger; the risk that the VeriSign and Illuminet businesses will not be integrated successfully and unanticipated costs of such integration; uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results; increased competition; risks associated with the company's international business and risks related to potential security breaches. 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, especially in the company's Annual Report on Form 10-K for the year ended December 31, 2000, Registration Statement on Form S-4 filed on October 10, 2001 and Quarterly Reports on Form 10-Q for the quarters ended March 31 and June 30, 2001. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
VeriSign is a registered trademark of VeriSign, Inc. Other names may be trademarks of their respective owners.
Contact Media Relations: Janine Dunne, jdunne@verisign.com,
703-948-4496
Investor Relations: Katie Ochsner, kochsner@verisign.com,
650-426-3512