Online trust has eroded significantly in the past two years according to analyst reports, with threats of phishing and pharming growing each day. In fact, a Gartner study recently reported that 20% of all consumers will not do business online at all. To date, security responses to online fraud have been ineffective, reactive and based on old tools which are becoming more vulnerable. Even the trusted Internet padlock has vulnerabilities that must be addressed as fraudsters become more advanced.
In response to this breakdown in online authentication, Comodo recognizing the need let the way in creating the CA/B Forum, a consortium of leading certification authorities and browser providers including Microsoft, Comodo, Mozilla, Opera and VeriSign to develop next generation solutions to address emerging trust threats on the Internet. The creation of EV SSL certificates was the first result of that effort and they were created to protect users from doing business with unauthenticated web merchants. Through rigorous guidelines, standards are being created that standardize online identity verification process among CA's so that consumers can know who they are doing business with.
A solid foundation for Online Business
EV SSL certificate protect users from doing business with unauthenticated web merchants. Simply, EV SSL certificates are the new type of SSL certificate that provide rigorous authentication for a business' identity. This extended validation (EV) is given to online businesses that can be verified through evolved and secured authentication processes. If your site can be identity verified (and a competitors can not) customers are likely to trust you more. This competitive advantage translates into reduced visitor abandonment rates, improved conversions, higher revenue per transaction and higher lifetime customer value. In the world of e-commerce, establishing trust is mission critical because when you win your customer trust, you win their business.