eBay(TM) Selects Equifax Secure to Verify Identity of Buyers, Sellers Over the Internet
New Service to Add Additional Privacy, Security for World's Largest Online Trading Community
January 15, 1999 08:35 AM
ATLANTA, Jan. 15 /PRNewswire/ -- Equifax Secure Inc., the e-commerce solutions division of Equifax Inc. EFX , and eBay EBAY , the world's largest person-to-person online trading community, today announced a new service that will soon enable eBay to establish a new standard for personal privacy and security for www.ebay.com. Financial terms were not disclosed.
Under this agreement, Equifax Secure and eBay are bringing next-generation technology to authenticate consumers joining the growing eBay community of registered buyers and sellers. The new service delivers a security-rich registration process to revolutionize authentication on www.ebay.com, creating an even more secure, private online trading environment.
"eBay is committed to protecting users' privacy and providing community members with the valuable tools and services to help foster safe online trading," said Meg Whitman, president and CEO of San Jose-based eBay. "Our voluntary program, Verified eBay User, will establish an additional level of confidence in knowing the identity of other users. Equifax Secure will help support this initiative by verifying user identification information."
Jeff Johnson, Equifax senior vice president and general manager of Equifax Secure, said, "We are delighted that eBay has selected the Equifax Secure remote authentication capability for its online trading community. Obtaining more complete and accurate identification increases consumer confidence in buying or selling goods and services while further enhancing privacy, security and trust for eBay's web site."
According to Privacy and American Business, nearly half of the consumers who use personal computers do not access the Internet, saying that ensuring the privacy and security of personal data and on-line transactions would influence them to start using the Internet. According to Consumer Reports and the Computer Security Institute, millions of dollars are lost each year from identity theft, unauthorized insider access, theft of proprietary information, telecommunications and financial fraud, and other security breaches over public and private networks.
"The Equifax Secure authentication technology significantly reduces the risk, cost and complexity of assuring the privacy, integrity and security of electronic communications and transactions over the Internet," Johnson said. "Equifax Secure and eBay share a commitment to eliminating fraud through implementing safeguards on the Internet for e-commerce."
The authentication technology is part of a suite of e-commerce solutions developed by Equifax Secure to help build privacy, security and trust for e-commerce over the Internet and other networks. The e-commerce solutions leverage Equifax's 100 years of innovation in managing large volumes of sensitive information to enable enterprises in a secure online environment to authenticate consumer identity, secure business applications and manage digital certificates and scalable directories for consumer-direct, intra- enterprise and business to business e-commerce.
About eBay
eBay EBAY (http://www.ebay.com), the world's personal trading community(TM), pioneered person-to-person online trading. Founded in 1995, eBay has developed an efficient and entertaining trading site in an auction format on the Web that is available 24 hours a day, 7 days a week. eBay has more than 1.3 million registered users, as of September 30, 1998. Currently, there are over 1 million items listed for sale. More than 150,000 new items are added daily in more than 1,000 categories, including: antiques; books, movies and music; coins and stamps; collectibles; computers; dolls and figures; jewelry and gemstones; photo and electronics; pottery and glass; sports memorabilia; and toys.
About Equifax
Equifax Secure Inc., a unit of Equifax Inc., provides outsourced e-commerce solutions to enable enterprises to authenticate consumer identity, secure business applications and manage digital certificates and directories for highly secure, private e-commerce over the Internet and other networks.
EQUIFAX EFX is a worldwide leader in shaping global commerce by bringing buyers and sellers together through its information, transaction processing, consulting and knowledge-based businesses. Equifax serves the banking, financial, retail, credit card, telecommunications/utilities, transportation and healthcare industries and government. Founded in 1899, Atlanta-based Equifax today has 14,000 employees in 18 countries and sales in more than 45 countries. Revenues for the 12 months ended September 30, 1998, were more than $1.5 billion. For more Equifax information, visit the company's Internet web site at equifax.com.
Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include worldwide and U.S. economic conditions, changes in demand for the company's products and services, risks associated with the integration of acquisitions and other investments, and other factors discussed in the "forward-looking information" section in the management's discussion and analysis included in the company's annual report on Form 10-K for the year ended December 31, 1997, and in the "Year 2000 Information" section in the company's quarterly report on Form 10Q for the period ended September 30, 1998.
SOURCE Equifax Secure, Inc.
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