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Article: PayPal to Acquire VeriSign's Payment Gateway Business; eBay and VeriSign Form Strategic Alliance for Online Commerce and Security.
- Article from:
- Business Wire
- Article date:
- October 10, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN JOSE, Calif. & MOUNTAIN VIEW, Calif. -- eBay (Nasdaq:EBAY) and VeriSign (Nasdaq:VRSN) today announced a strategic alliance that calls for the two companies to collaborate on payment services and security initiatives for e-commerce. Under the terms of the agreements, PayPal, an eBay company, will acquire VeriSign's payment gateway business and combine it with PayPal's leading merchant services platform. VeriSign will also provide eBay and PayPal with a suite of security services that includes the deployment of two-factor authentication, a security system that gives customers a one-time password or digital certificate to help protect against online identity theft.
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