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Wednesday, November 14, 2012 — 11:41:57 (CST)

Study: retailers worry over PayPal security risks

Redwood City, Calif., Nov. 14, 2012 -- OneID, the first digital identity provider to eliminate the need for usernames and passwords, today announced findings from "Retail Trends Report: Customer Payments and Logins," a study commissioned by OneID to examine security, privacy and authentication challenges faced by online retailers. The survey, conducted by Osterman Research, found that online retailers are caught between trying to simplify the shopping experience and securing their networks, with few solutions available that can achieve both.

The survey of 165 senior technology influencers or C-level decision makers at e-commerce or mobile commerce outlets found that sites are expanding their use of alternative payment solutions, like PayPal and social logins. This comes even as they admit that currently these customer login and checkout methods present significant security risks and only two-thirds admit their sites are as secure as they could be.

"Even with alternative payments, social logins and all of today's innovative technologies, online retailers are still being forced into the age-old trade-off between usability and security," said Alex Doll, CEO of OneID.

Doll continued: "The 'password hack-a-day' trend we see in the news tells us that existing solutions are broken. Password-driven payment systems and social media logins are built on top of 50-year-old technology that continues to fail. Merchants deserve a solution that combines usability and security, while allowing consumers to be in control of their own digital identity."

Among the key findings from "Retail Trends Report: Customer Payments and Logins" are:

The findings underscore how the increasing prevalence of alternative payments like PayPal and social media accounts for conducting transactions across the web is driving online retailers to make difficult decisions when it comes to protecting privacy and data. E-commerce and m-commerce operators have almost no real choices among existing solutions to ensure protection and privacy while delivering on convenience.

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About Us

OneID is the first digital identity provider to eliminate the need for usernames, passwords and site-specific accounts, making the online experience simpler and more secure. OneID makes online transactions as easy as one click by instantly recognizing individuals through their unique digital identity. OneID combines advanced, military-grade cryptography and a distributed cloud architecture to authenticate users through registered devices, like computers and smartphones. For businesses, OneID reduces fraud and eliminates the costs and risks associated with managing and securing customer accounts and data. Based in Redwood City, Calif., OneID was created by search engine Infoseek founder Steve Kirsch and is backed by Khosla Ventures and North Bridge Venture Partners. For more information or to create your OneID, visit http://www.oneid.com .

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