Yahoo Wallet's Security Key
By restricting purchasing activities to its secure domain, Yahoo Wallet ensures a safer shopping environment than a Web site where the connection is either less secure or unclear. Using a personal access code, called a "security key" in Yahoo speak, Yahoo Wallet limits credit card purchases to servers accessible only via SSL on a secure.yahoo.com domain.
Over 10,500 merchants such as Old Navy, Dell, and Kodak are part of this network, protected through Stronghold Secure Server, which boasts the industry standard 128-bit encryption for SSL. Signing up and verification of the security key can only occur on these Web sites that are contained within the secure.yahoo.com domain. Every time you want to make a purchase online, Yahoo Wallet will prompt you to verify your security key. If you're idle or leave your computer, the security key will automatically time out after one hour; you'll have to re-enter your information and password again at Yahoo Wallet's prompt. You'll also need your security key to edit your profile.
For those who are extra cautious, Yahoo Wallet allows you to limit the security key time out to less than an hour. To do so, go to your personal page, My Yahoo, log in, and select Account Info. From there, you will see your ID card. Hit Edit under Member Information and then change your preferences for Prompt for Password anywhere from 15 minutes to every day.
Extra Security Features
To prevent outsiders from guessing their way into your account, Yahoo Wallet blocks users who retry entering different passwords at least five times. If you've forgotten your security key, you can re-enter My Yahoo and change your security key under Account Info. Alternatively, you can request a temporary security key by selecting the Forgot Your Security Key? link at the verification prompt. Yahoo Wallet will then ask you the personal question you chose during registration to verify your identity.
And you can also stop worrying about who's peering at your computer screenââ,¬"after registering, Yahoo Wallet shows only the last four digits of your credit card. The last four digits will help you identify which credit card you are using, and limits others from hacking your account.
Convenience Perks
If you're convinced that online wallets can give you some sense of security, you can enjoy their other neat features. Simply signing up for Yahoo Wallet earns you points that can be used in Yahoo shopping auctions.
To sign up, click on the Yahoo Wallet link at the bottom of any Yahoo shopping page or go directly to the Yahoo Wallet Website. If you're already a registered user of Yahoo, you just have to enter in a security key (as discussed here), personal question for added security, and billing information. If you're not a registered user, you'll have to create a new user identity and password for your Yahoo personal account. Once you've completed the registration, you are free to shop at any of the 10,500 merchants listed under Yahoo Shopping.
One of the conveniences of Yahoo Wallet is the Express Checkout button. At any time you are shopping, you can click on the Express Checkout button, which takes you to Yahoo Wallet. After viewing the contents of your shopping basket, you can purchase them. Express Checkout will automatically fill in your credit card number, billing information, and shipping address.
To set up Express Checkout functions, simply enter your billing information and credit card number when you sign up for Yahoo Wallet. Remember though, that your purchases will be sent to which ever default shipping address is entered into your Wallet profile. And if shopping online still intimidates you, you can find some relief in Yahoo's Buyer Protection program. The Buyer Protection Program covers items up to $750 under standard coverage, and $1,000 if you use Yahoo Wallet. So even if you do find yourself a victim of online fraud, you won't be completely bankrupt.
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