Travelers Pairs With buySAFE To Increase Protection For Online Shoppers
16 Oktober 2006 - 9:51PM
Business Wire
Travelers announced today that it has joined with buySAFE and its
other financial institution partners to provide greater security to
online shoppers. Consumers who purchase online products with the
buySAFE seal are protected by surety bonds that guarantee each
bonded transaction for its full value � up to $25,000. As more
people shop online, fraud and poor experiences increase. Among the
thousands of consumer fraud complaints the Federal Trade Commission
(FTC) receives every year, those dealing with online auction fraud
consistently rank near the top of the list. Online buyers need to
know which merchants or sellers they can trust. The combination of
Travelers� trusted name and financial stability with buySAFE�s
unique and comprehensive risk management approach brings confidence
to these buyers, as well as higher sales revenue and transaction
security for the merchants. The buySAFE seal indicates that an
online seller has been financially pre-qualified and rigorously
investigated, and that the seller�s sales activity and online
reputation will continue to be monitored. �We�re very pleased to
join buySAFE in guaranteeing online transactions from bonded
sellers, and in furthering mitigation of the risks associated with
online shopping,� said George Thompson, Senior Vice President of
Bond � Commercial Surety. �With this partnership, Travelers
continues its tradition of delivering progressive insurance and
surety solutions to the marketplace that will also fortify
protection for its customers�. Arriving in time for the holidays,
this new pairing - that offers greater security for e-commerce
transactions - can raise the comfort level of consumers who
purchase from buySAFE Merchants. Online shoppers gain the
confidence that all terms and conditions of the sale will be met.
�With a strong partner such as Travelers, buySAFE continues to
pursue its mission - to make every online transaction reliable,
trusted and virtually risk-free,� said Jeff Grass, buySAFE�s CEO.
�Online shopping is moving into new territory, accelerated by
search engines and comparison shopping sites. As these new sales
streams develop, we�re pleased to add the strength of this leading
surety bond provider as we grow.� About buySAFE buySAFE, Inc. helps
to create a safe and stress-free online shopping environment.
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 issued 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 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. About
Travelers Travelers understands that life and business are
inherently dynamic and that the best way to serve agents and
policyholders is to deliver insurance that evolves to stay in-synch
with life and business as they change. For more information on
being in-synch, visit www.travelers.com. Travelers is a business of
The St. Paul Travelers Companies, Inc. (NYSE:STA), a leading
property casualty insurer selling primarily through independent
agents and brokers. The company�s diverse business lines offer its
global customers a wide range of coverage in both the personal and
commercial settings, including automobile, homeowners,
construction, small business, oil and gas, ocean marine, financial
and professional services, global technology and public sector
services. St. Paul Travelers is ranked 85 in the Fortune 500, with
2005 revenues of $24.4 billion and total assets of $113.2 billion.
The company has approximately 32,000 employees. For more
information about this offering, visit us online at
www.travelersbond.com. Travelers announced today that it has joined
with buySAFE and its other financial institution partners to
provide greater security to online shoppers. Consumers who purchase
online products with the buySAFE seal are protected by surety bonds
that guarantee each bonded transaction for its full value - up to
$25,000. As more people shop online, fraud and poor experiences
increase. Among the thousands of consumer fraud complaints the
Federal Trade Commission (FTC) receives every year, those dealing
with online auction fraud consistently rank near the top of the
list. Online buyers need to know which merchants or sellers they
can trust. The combination of Travelers' trusted name and financial
stability with buySAFE's unique and comprehensive risk management
approach brings confidence to these buyers, as well as higher sales
revenue and transaction security for the merchants. The buySAFE
seal indicates that an online seller has been financially
pre-qualified and rigorously investigated, and that the seller's
sales activity and online reputation will continue to be monitored.
"We're very pleased to join buySAFE in guaranteeing online
transactions from bonded sellers, and in furthering mitigation of
the risks associated with online shopping," said George Thompson,
Senior Vice President of Bond - Commercial Surety. "With this
partnership, Travelers continues its tradition of delivering
progressive insurance and surety solutions to the marketplace that
will also fortify protection for its customers". Arriving in time
for the holidays, this new pairing - that offers greater security
for e-commerce transactions - can raise the comfort level of
consumers who purchase from buySAFE Merchants. Online shoppers gain
the confidence that all terms and conditions of the sale will be
met. "With a strong partner such as Travelers, buySAFE continues to
pursue its mission - to make every online transaction reliable,
trusted and virtually risk-free," said Jeff Grass, buySAFE's CEO.
"Online shopping is moving into new territory, accelerated by
search engines and comparison shopping sites. As these new sales
streams develop, we're pleased to add the strength of this leading
surety bond provider as we grow." About buySAFE buySAFE, Inc. helps
to create a safe and stress-free online shopping environment.
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 issued 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 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. About
Travelers Travelers understands that life and business are
inherently dynamic and that the best way to serve agents and
policyholders is to deliver insurance that evolves to stay in-synch
with life and business as they change. For more information on
being in-synch, visit www.travelers.com. Travelers is a business of
The St. Paul Travelers Companies, Inc. (NYSE:STA), a leading
property casualty insurer selling primarily through independent
agents and brokers. The company's diverse business lines offer its
global customers a wide range of coverage in both the personal and
commercial settings, including automobile, homeowners,
construction, small business, oil and gas, ocean marine, financial
and professional services, global technology and public sector
services. St. Paul Travelers is ranked 85 in the Fortune 500, with
2005 revenues of $24.4 billion and total assets of $113.2 billion.
The company has approximately 32,000 employees. For more
information about this offering, visit us online at
www.travelersbond.com.
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