14 DAY TRIAL // After being investigated by the FBI over phishing attacks, eBay has announced today a partnership with VeriSign, aimed at securing the online payment system PayPal. As part of this partnership, eBay will also purchase the acquisition filtering system, created by VeriSign.
The online sales portal has announced that a $370 million transaction, in cash and stocks, has been made for this system. According to the eBay press release, the company is expecting a $100 million increase in profit after these security measures are implemented.
The phishing incident investigated in July consisted of copying several eBay pages and posting them on the NordicRadio domain, hoping that this site's users will disclose personal information and credit card numbers.
Over the last years, eBay has also had problems with the routine updates which paralyzed the portal's entire activity. One year ago, such a minor change has managed to trick programmers into believing that the site was functioning within normal parameters, but the moment the site has reached a traffic peak, users' access was blocked, generating error messages.
The VeriSign solution will be included in the already existent PayPal system, the result being a broad range of options for processing the online payments. The solution was used last year to process over $40 billion.