E-Commerce: buySAFE Bonds Its 12 Millionth Online Transaction
buySAFE, Inc. (www.buysafe.com), one of the leading trust and safety company for e-commerce transactions, recently announced that it has reached a major milestone by bonding its 12 millionth online transaction. buySAFE is the only company in the world that provides online merchants with an explicit third-party endorsement of their reliability and trustworthiness, backed by a bond guarantee from one of the leading surety providers Liberty Mutual, Travelers and ACE USA.
Customers in a buySAFE bonded transaction receive a surety bond that guarantees that all terms of sale will be met. In the unlikely event that a buySAFE Merchant does not honor its terms of sale, buySAFE will reimburse the customer for the full price of the item purchased, up to $25,000. Merchants that use the buySAFE service and display the buySAFE Seal on their website or listing experience an average conversion lift of 6.8%.
"Reaching the 12 million bonded transactions mark is a major milestone, and reaffirms the vital role that buySAFE plays in making online transactions trusted, reliable, and virtually risk free," said Jeff Grass, CEO, buySAFE. "By bonding online transactions, buySAFE makes shopping safer and more enjoyable for consumers and more profitable for online merchants, which creates greater overall efficiency for all of e-commerce."
To put this milestone in perspective, the 12 million transactions that buySAFE has bonded are equivalent to the entire population of the state of Ohio. Among these 12 million transactions, buySAFE has bonded transactions as small as one penny (an Elvis compact disc), and as large as $688,000 (a 66 carat Sri Lankan sapphire). The 12 millionth bond issued was for an FM transmitter for an iPod Nano. buySAFE currently bonds a new transaction every seven seconds.
buySAFE is available to merchants that sell through their e-commerce Websites, as well as merchants that sell on marketplaces including eBay and Overstock.com. buySAFE has demonstrated significant momentum in the e-commerce arena in recent months with the announcement of several new partners and customers, including leading home improvement etailer Home Decor Products, and DVD Planet – part of Infinity Resources – the third-largest DVD retailer online. buySAFE also recently announced that shopping cart provider 3dCart will soon be integrating the buySAFE solution as well. MIVA Small Business Solutions, Cart32 and Zoovy have also announced that their merchants now have the ability to integrate the buySAFE Seal and bonding services directly via their product platforms. In May 2007, buySAFE introduced the buySAFE Widget, which makes buySAFE available to all e-commerce Websites, regardless of the shopping cart used to process transactions.
About buySAFE
buySAFE, Inc. is an expert at ensuring safe, reliable and virtually risk-free online shopping. buySAFE and its surety partners – Liberty Mutual, Travelers, and ACE USA – certify online merchants to ensure they are trustworthy and reliable, monitor them continuously, and stand behind the certification by guaranteeing a shopper's purchase with a bond, up to $25,000. buySAFE is the only company in the world that provides online merchants with an explicit third-party endorsement of their reliability and trustworthiness, backed by a bond guarantee.
buySAFE has been proven to increase buyer confidence by providing certified merchants with the buySAFE Seal for display on their Website and by enabling shoppers to guarantee their purchase with a bond. In so doing, buySAFE also benefits merchants because shoppers are more likely to buy when they have trust and confidence that the merchant will perform as promised. With increased buyer confidence, buySAFE Merchants typically enjoy higher Website conversion, more repeat buyers and a better ROI on all their marketing dollars. buySAFE has guaranteed more than 12 million online purchases with a surety bond. buySAFE is headquartered in Arlington, Virginia. More information can be found at www.buysafe.com.
SOURCE: buySAFE