New Delhi: US-based internet solutions provider Verisign is planning to roll out security services in India in the second half of this year, which would help internet users in combating online fraud and identity theft.
The company would introduce its security products such as Verisign Identity Protection (VIP), which would give another layer of security to internet users, after username and password.
“We are currently doing proof of concept with clients of the three banks,” Shekhar Kirani, vice president of Verisign Services India Private told PTI.
For most online consumers, a username and password are the only two items used to identify and authenticate themselves with online services, he said. But, he added, they are not necessarily always enough to secure an identity properly. Thus, it becomes vulnerable to fraud and identity theft, he said.
VIP would provide a new layer of authentication infrastructure for the internet that could be used for multiple internet accounts. Globally, the company offers users promise of a single security device that will enable authentication on VIP-enabled websites like PayPal, eBay and Yahoo.
Internet identity theft, phishing, and online financial fraud are increasingly becoming compelling drivers for deploying strong authentication for consumer applications, he said.
As financial institutions and e-commerce sites launch new initiatives to shore up consumer confidence in their brands, online banking and transactions, government agencies have begun to recommend identity protection guidelines, he added.