26 January 2009 Company Announcements

 

VeriSign to beef up PayPal in the UK

Internet users in the UK will have the option of using VeriSign Identity Protection on their PayPal account to protect their online identity by using a one-time-password delivered via text message (PayPal SMS Security Key) or by using a security token (PayPal Security Key).

Users of the PayPal Security Key and PayPal SMS Security Key can access their online accounts in a secure manner through a VIP security credential that generates a one-time-password for each sign-on. During an online session, this password is entered into the user log-in interface along with the user's usual account name and password. When PayPal verifies the OTP and matches it to the user, clients achieve strong - or two-factor - authentication.

Consumers whose devices support SMS - and who subscribe to SMS services from their mobile providers - can receive PayPal OTPs without having to download any special software. In addition to the token and SMS functionality that PayPal has chosen to use, the VIP Authentication Service supports a wide range of authentication credentials, including stand-alone tokens, software tokens for mobile phones and credit card-size form factors.

The new SMS functionality is provided by VeriSign's Messaging and Mobile Media division.