SOURCE: buySAFE

October 25, 2006 14:10 ET

buySAFE Strikes New Strategic Alliance With Travelers and ACE USA

New Alliance Provides Retailers and Shoppers With a New Level of Trust in Time for the Holidays

ARLINGTON, VA -- (MARKET WIRE) -- October 25, 2006 -- buySAFE, Inc., the leading online trust and safety company for e-commerce transactions, today announced a strategic alliance with two leading surety bond providers, Travelers Casualty and Surety Company of America and ACE USA. buySAFE is the world's first and only company to use surety bonds to protect consumers in online shopping transactions. Travelers and ACE USA join Liberty Mutual -- a buySAFE surety provider since 2004 -- to provide surety bonds for buySAFE Merchants, protecting transactions and increasing the level of confidence for online shoppers.

buySAFE Merchants are identified by the presence of the buySAFE Seal on their Website or in their listings. To qualify, merchants must pass the rigorous buySAFE Business Inspection, which provides consumers with confidence that they are trustworthy, reliable and committed to delivering on the terms of the sale. Consumers that make a purchase from a buySAFE Bonded Merchant receive a surety bond underwritten by Travelers, ACE USA and Liberty Mutual that provides -- up to $25,000 -- that all terms and conditions of the sale will be met in accordance with the bond. This unique protection gives shoppers the confidence they need to buy and provides qualified merchants with the opportunity for higher sales revenues.

"Search engines and comparison shopping sites are now driving more sales opportunities than ever before, but consumers need a strong trust signal to complete their transactions," said Jeff Grass, buySAFE's CEO. "By offering time-tested surety bonds from solid industry leaders such as Travelers, ACE USA, and Liberty Mutual, buySAFE gives merchants the ability to instill the same level of consumer confidence as more well-known online brands."

"We're pleased to join buySAFE to provide a safer online shopping experience. At Travelers, we believe in the promise of technology, but we also believe in providing a sense of security to consumers. By working with buySAFE, we help fortify the integrity of the merchants in the eyes of the customer," said George Thompson, Senior Vice President of Bond - Commercial Surety for Travelers.

"Research shows that most Americans just don't feel secure when shopping online. Surety bonds are a great solution," said Stephen Haney, Senior Vice President, ACE USA Surety.

Travelers is a leading provider of property casualty insurance, surety products and risk management services to a wide variety of businesses, organizations and individuals. ACE USA is the U.S.-based retail operating division of The ACE Group of Companies, headed by ACE Limited (NYSE: ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor's. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.

ABOUT buySAFE

buySAFE, Inc. helps to create a safe and stress-free online shopping environment for shoppers and merchants. buySAFE 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 has provided more than 9,000,000 surety bonds on individual online purchases. 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 through buySAFE that can be found at www.buysafeshopping.com. buySAFE is headquartered in Arlington, Virginia. More information can be found at www.buysafe.com.

Contact Information

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