New Weapon Against Identity Theft

By Deane Barker on September 8, 2003

PayAgent Aims to Curtail Identity Theft Online: In the end, it’s just one more username and password that can be stolen, guessed, or hacked like any other.

“Under PayAgent’s system, consumers can register their names and personal information with the company and then choose a user name and password. Whenever an online transaction is being made through a Web site that also contracts with PayAgent, the system searches for matching names in PayAgent’s files. If there is a match, the buyer will be asked to enter his or her user name and password.

The company charges consumers $24.95 a year for the service and e-commerce companies would pay $200 to $375 in set-up costs, plus a monthly fee of $30…”