SOURCE: buySAFE

June 01, 2006 08:00 ET

buySAFE Solves Retail Websites' Number One Problem: Gaining Buyer Confidence

New Service Offers Only Trust Signal That Guarantees Online Retailers' Transactions

ARLINGTON, VA -- (MARKET WIRE) -- June 1, 2006 -- buySAFE, Inc. (www.buysafe.com), the leading online trust and safety company for e-commerce transactions, today launched the first service that enables Retail Websites to display a meaningful trust signal (the buySAFE Seal) backed with a broad guarantee. Merchants who qualify to use the buySAFE Seal have passed the buySAFE Business Inspection, which ensures the merchant is trustworthy, reliable and committed to delivering on the terms of the sale. These retailers can then display the buySAFE Seal on item listings, which tells consumers the transaction is guaranteed with a surety bond of up to $25,000. Additionally, all buySAFE Bonded Sellers agree to allow buySAFE to continuously monitor their performance. This ensures a virtually risk-free shopping experience.

buySAFE solves one of the biggest problems facing online shopping: knowing who to trust. Low buyer confidence decreases conversion rates and consequently, yields smaller profits. Because many online shoppers feel marketplaces and large, online brands are safer, this problem is magnified for the thousands of retailers operating outside of this environment. buySAFE helps Retail Websites gain buyer confidence by ensuring a safe, enjoyable shopping experience. When the buySAFE Seal is present in a merchant's listing or on their Website, they are more likely to close the sale.

"Buyer confidence has emerged as a major issue for online retailers," said Jeff Grass, CEO, buySAFE. "buySAFE Website Bonding solves this problem, because it offers retailers a portable trust and reputation mechanism that can be leveraged across all channels. Displaying the buySAFE Seal gives sellers credibility, and gives buyers peace of mind. Our customers, the majority of whom sell on eBay, have been asking us for this service since they have seen the tremendous impact using buySAFE can have on their eBay businesses. We're extremely excited to now support our customers wherever they sell on the Internet, whether it is on a marketplace, comparison shopping engine, paid search or their own Website store."

Initially, buySAFE Website Bonding will be offered through seller service providers (e.g., storefront/shopping cart/checkout providers) that provide e-commerce automation services.

buySAFE already has signed its first partnership agreement with leading provider Zoovy, Inc., which will soon roll out the service to its customers. According to David Steel, CEO, Zoovy: "buySAFE Website Bonding levels the playing field by providing small to mid-sized online retailers -- which comprise the majority of Web merchants -- an opportunity to compete against the major online brands. Although the majority of online sellers are trustworthy, buyers often fear that smaller e-commerce sites will fail to deliver authentic goods at the offered price, or won't follow through on the sale. buySAFE is the first service that solves this problem. By guaranteeing shoppers can trust sites that display the buySAFE Seal, our customers turn more online browsers into buyers, which leads to increased revenues. We think it's important to provide our customers every possible advantage as they grow their online businesses. Bonded Sellers have a clear edge."

Online retailers can learn more about Website Bonding and request the service from their seller service provider by visiting www.bondmywebsite.com.

ABOUT buySAFE

buySAFE, Inc. helps to create a safe and stress-free online shopping environment through Bonded Shopping™ -- the only program that qualifies merchants, identifies reputable online businesses with the buySAFE Seal, and uses surety bonds to provide broad protection for individual buyers from online transaction risks. buySAFE also benefits online merchants by increasing trust and confidence with their shoppers, thereby increasing profit opportunities. There are currently more than two million items bonded with buySAFE that can be found at www.buysafeshopping.com. buySAFE is headquartered in Arlington, Virginia. More information can be found at www.buysafe.com.

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