press releases

buySAFE Gains Momentum by Signing Additional eBay PowerSellers

"buySAFE with The Hartford" Helps to Drive Sales and Reduce Risk for Online Auction Participants

Alexandria, VA (October 20, 2004) - buySAFE, Inc. (www.buysafe.com), which offers one of the highest levels of protection from online auction risks through the buySAFE with The Hartford program, today announced that it is gaining momentum by signing two new eBay PowerSellers, Peach Trader, Inc. (acitydiscount) and SAV Corporation (Shoetime), to its rapidly growing roster of credible, online auction merchants. buySAFE with The Hartford is the first and only service to financially protect buyers in online transactions by offering a seal of approval and by using surety bonds issued by The Hartford Financial Services Group, Inc. to reduce risks, such as fraud, misrepresentation, refund failure and seller default.

buySAFE seller John Stack, owner of Peach Trader, Inc. (eBay Seller ID: acitydiscount) is not only a Titanium eBay PowerSeller with more than 17,400 positive feedback ratings, but also is eBay's number one seller of restaurant equipment. "Having the option to buy food service equipment online through an auction site is both economical and convenient," he said, "but if the transaction goes awry and you're dealing with the wrong seller, it will likely be a very unpleasant experience. Positive feedback ratings alone are not enough. Potential buyers like seeing the buySAFE seal on my item listings, because it raises their comfort level by letting them know they can trust my company and the transaction."

David Hardin, owner of SAV Corporation (eBay Seller ID: shoetime), is also a buySAFE-approved seller and he has received more than 52,800 positive feedbacks with an overall rating of 99.7 percent. Shoetime offers authentic brand name and designer footwear including shoes, boots and sandals from major U.S. retailers. "We have always committed ourselves to providing the highest levels of customer service and customer security," said Shelly Hudson, director of marketing for Shoetime, "The buySAFE with The Hartford guarantee is another way that we can show our buyers that we care about them. They know that we are safe and bonded, and they can trust us. In any online market, such as auction sites, it's all about making the customer feel secure, and buySAFE lets us do that."

buySAFE with The Hartford is the only service that enables approved sellers to present a credibility seal on their online auction listings and issue a surety bond to financially protect the buyer in a transaction. buySAFE performs a rigorous qualification check on sellers and issues the buySAFE Seal only to the most reputable, trustworthy online merchants. Once an item is purchased, The Hartford issues a surety bond, which provides that The Hartford will refund the item's sale price or replace it in the event that a bonded seller does not fulfill the terms of the sale. This protects consumers from certain online transaction risks such as fraud, misrepresentation, refund failure and seller default.

"The signing of these two large sellers is a significant representation of where the online auction market is headed," said Steve Woda, founder and senior vice president, buySAFE. "Today, more and more consumers are looking for better ways to help them determine if the seller they are buying from is safe. We believe that the buySAFE seal helps to distinguish and differentiate the safe bonded sellers from the rest of the pack, ultimately giving the buyer the confidence and comfort they deserve when purchasing online."

about buySAFE

buySAFE makes online marketplaces safer, resulting in reduced risks for buyers and increased profit opportunities for sellers. buySAFE offers the first and only program to use surety bonds to provide protection for buyers from online transaction risks, such as fraud, misrepresentation, refund failure and seller default. Using the latest advances in business assessment techniques and technologies, buySAFE comprehensively qualifies online sellers and provides the buySAFE Seal to approved sellers for display on their auction listings, which informs buyers that they are dealing with a reputable and trustworthy seller. Approved sellers can financially protect their online transactions with surety bonds issued by a leading financial services company. Headquartered in Alexandria, Va., buySAFE is on the Web at http://www.buysafe.com.

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