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VeriSign on Monday unveiled a new security system to protect online buyers from identity theft, and said it had signed up PayPal, eBay, and Yahoo as the first sites to support the authentication service.
Called VeriSign Identity Protection (VIP), the system will let consumers use a single security device to authenticate themselves to any VIP-enabled Web site. Using a shared authentication network operated by VeriSign, VIP allows e-tailing sites and enterprises to provide customers or users with one authentication credential -- perhaps a USB-based token that plugs into the computer -- for verifying identity.
[edited by: shri at 12:35 am (utc) on Feb. 14, 2006]
[edit reason] Fixed Link [/edit]
Would be good to see something like that come into play across the various locations where my credit card info might be stored online.
I would like to see some biometric security in that device.
I'm not that keen on a USB device for the simple reason that I want access to that account 24x7 from a web browser and there are many locations which do not allow me to plug a USB key into a computer.
Also, with mobile phone / PDA / Linux usage on the rise, a USB based device might actually prevent universal access, if it is tied into Windows.
It is impossible to believe, how insecure are credit cards in comparison with these authentication schemes!
It is like someone impersonated can steal your money knowing only your bank account number and your name.
Something wrong is with this world, if VISA was able to put such a raw and insecure technology into mainstream.
If someone was able to mass-market technology where payee authentication is based on some stronger method (like one-time password generating device in addition to just card number), who'd consider even using #*$!ty VISA? (I say it, because I have good grounds to do, many times being in the situation where losing my time and hope to return my stealed money.)