TELUS and CIBC to form canadian e-commerce digital trust services provider - Business - VeriSign Inc

TELUS and CIBC have entered into an agreement to establish a new, national e-commerce trust services provider that will serve as VeriSign, Inc.'s principal Canadian affiliate. VeriSign, provider of digital trust services, will provide both technology and capital to the new entity formed by TELUS and CIBC. This new entity will provide web site security to enable secure e-commerce; enterprise authentication, which leverages VeriSign's public key infrastructure (PKI) to issue and manage digital credentials for signing transactions; and online merchant payment services, which facilitate settlement of transactions between buyers and sellers.

This initiative forms an independent Canadian company that draws on the expertise of each partner to establish a trusted environment for wired and wireless transactions. TELUS and CIBC currently deliver PKI services in Canada as part of the VerisSign trust network, which uses common technology, operating practices and infrastructure to establish secure communications and transactions on the Internet. Under terms of the alliance, TELUS and CIBC will combine their PKI services to deliver a Canadian national trust infrastructure for secure online and wireless commerce.