Mountain View, Calif. - June 25, 2008 - VeriSign, Inc. (NASDAQ: VRSN), the trusted provider of Internet infrastructure services for the networked world, today announced that it has been selected by Microsoft® as an OpenID provider for users of HealthVaultTM, a free service that enables consumers to store and manage their health information online. HealthVault's acceptance of VeriSign OpenIDs will begin later this week.
VeriSign combines the convenience of OpenID single sign-on with the security of strong authentication via VeriSign Identity Protection (VIP) credentials. Acceptance of VeriSign's OpenIDs secured by the VeriSign Identity Protection Service gives consumers another choice when signing into Microsoft HealthVault to help safeguard their personal health information. Microsoft HealthVault members who have activated their VIP credential on their VeriSign OpenID can also utilize the same VIP credential on eBay, PayPal, AOL and a number of other sites that participate in the VeriSign Identity Protection Network.
The need for securing online health records is growing. Some 47 million Americans are uninsured , a situation that has spawned a brisk black market for health insurance policy information stolen from consumers and sold the same way Social Security Numbers and credit card numbers are stolen and sold. By securing their OpenID log-ins with VIP credentials, HealthVault members are making it harder for identity thieves to illegally access sensitive medical and insurance data.
"HealthVault is about empowering people to take control of their personal health information, and that means making their Web experience easier while also helping them safeguard their privacy," said George Scriban, senior product manager, Microsoft Health Solutions Group. "That's why we're happy to give our users the option of using a VeriSign OpenID with a VIP credential."
When a user logs into their HealthVault record using VeriSign OpenID secured with a VIP credential, they will be prompted for their OpenID user name and password, and then asked for a one-time-password (OTP) generated by their VIP credential. The process makes it extremely difficult for fraudsters to access accounts illegally because it combines something users know (user name/password), with something they have (a VIP credential). Moreover, as the same credential can be used by other members of the VIP network, users have the convenience of utilizing these credentials to secure their identities across multiple Web sites.
"Moving health information online creates tremendous convenience for consumers since they will now be able to access critical healthcare information that has traditionally been physically housed in one place and controlled by outside parties," said Fran Rosch, vice president, Identity and Authentication Services at VeriSign. "However, just as we've seen in online banking, providing convenience to consumers creates potential opportunities for fraudsters. By accepting OpenIDs secured with our VIP user credentials, Microsoft HealthVault can offer an online healthcare solution that balances convenient access with a secure experience."
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
Christina Rohall: [email protected], 650-336-4663
Investor Relations: Nancy Fazioli, [email protected] , 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 products or services, including VIP and OpenID; 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, 2007 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.
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