January 11, 2005, 12:00 AM

VeriSign on track to process $40 billion online this year, company says

VeriSign Inc., which provides Internet infrastructure and e-commerce services, will process $40 billion in online payments this year, Trevor Healy, vice president of VeriSign payment services, tells Internet Retailer.

Kurt Peters

Executive Editor

 

VeriSign Inc., which provides Internet infrastructure and e-commerce services, will process $40 billion in online payments this year, Trevor Healy, vice president of VeriSign payment services, tells Internet Retailer. VeriSign counts 125,000 online businesses in its customer base.

Healy says that because consumers continue to be concerned about security when shopping online, VeriSign has undertaken a consumer education push, starting last year with ads in USA Today touting the safety of shopping at sites that post the VeriSign security logo. This year, the campaign will expand into other media. According to a VeriSign survey, 45% of consumers will not shop at a site without a security designation and another 40% are reluctant to shop at such sites.

The VeriSign security logo now appears at 80,000 sites. Consumers welcome it because of the virtual nature of the Internet. “When they go to a Nordstrom store, they see the big building behind it and they know it’s a legitimate place to shop,” Healy says. “Online, they can’t see what’s behind the home page.”

 

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