In its second-largest acquisition, Amazon buys the company for $970 million.
Web trust services provider VeriSign Inc.'s Payflow payment services platform and digital certificates technology will be integrated with online retailer and delivery service Webvan Inc.'s technology platform, enabling online shoppers to conduct secure transactions. In addition, Foster City, Calif.-based Webvan is using VeriSign's Web site digital certificates to authenticate its site to end users, enabling encrypted, end-to-end communications, the companies say.
The Webvan site uses Mountain View, Calif.-based VeriSign's digital certificates to identify itself to end users in order to generate a special key, which is used to encrypt all data passed between users and the site. This assures users that they are shopping at the Webvan site and that their private information, including name, address, purchase details and payment information, is being safeguarded while in transit over the Internet. In addition, Webvan is implementing VeriSign's Internet payment platform to expedite authorization and payment processing.