U.S. Commerce Secretary William Daley recently stated that “if people don’t feel safe and secure, they will not use the Internet.” A recent Rockbridge Associates report indicated that consumers are indeed reluctant to embrace e-commerce, based in part on mistrust for online transactions. Consequently, online merchants are being forced to recognize that Internet security is becoming an increasingly vital issue.
In response, VeriSign Inc. (Nasdaq: VRSN) a provider of security solutions for companies engaged in e-commerce, this week issued a variety of announcements addressing Internet security issues.
For starters, the Mountain View, California-based company has formed a partnership with Digex, to push its Web site digital certification services. Digex will apply VeriSign’s digital certification, which features 128-bit encryption, to its managed Web and application hosting services. Digital certificates are at the front of online security technologies. According to RSA Data Security, “it would take a trillion-years to break” VeriSign’s digital certificates “using today’s most sophisticated hacking techniques.”
Need For Enhanced Security
VeriSign has also recently announced strategic relationships with several other companies, some of which include Above.Net, Concentric, InterLand, Interpath and Verio. The companies — mainly Application Service Providers (ASPs), Internet Service Providers (ISPs) and Web hosting firms — have signed agreements to integrate VeriSign’s security services with their e-commerce offerings.
“The exponential growth of e-commerce has mandated the need for enhanced trust and security on a widespread level,” commented Doug Schneider, President of Verio Services. “Integrating VeriSign’s Secure Site services with our broad range of Web offerings is a major step toward meeting this need.”
VeriSign has recently announced several enhancements to its Secure Site services, including not only the availability of its Global 128-bit digital certificate services, but also an automated enrollment interface enabling one-step provisioning of a commerce-enabled Web site, lifecycle services and volume-based discounts. Promotion of customers’ Web sites through VeriSign’s “dot com” directory, educational guides, online marketing content and white papers will also be made available.
“As more and more of our clients are conducting business over the Internet, the inherent need for online trust services to our secure client/server communications has increased,” stated Michael Fox, General Manager for Information Services, Interpath Communications. “VeriSign brings a trusted brand name and proven security solution that gives us the flexibility and comfort that our customers require.”
Responding to public concern regarding secure online transactions, a wide range of companies, including Microsoft, have been implementing accelerated policies to gain a solid degree of trust in the consumer arena.