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August 3, 2009

VeriSign, buySAFE join to offer products for online merchants

To assure consumers that their transactions and personal information remain secure

By CBR Staff Writer

VeriSign, the provider of internet infrastructure services for the networked world, is broadening its portfolio of trust-building products for online commerce with buySAFE. The company said that buySAFE provides online merchants a bonding product that inspects the merchant’s business, monitors their performance and enables shoppers to bond their purchases.

Under terms of a new alliance, VeriSign will promote the buySAFE product along with its VeriSign Secure Sockets Layer (SSL) Certificates and VeriSign Secured Seal solutions. VeriSign SSL Certificates with the VeriSign Secured Seal help assure consumers that their transactions and personal information remain secure.

The company said that buySAFE’s bonding product assures shoppers that the merchant is able to deliver on the promises made. The buySAFE is a two-part trust product. The buySAFE Seal is expected to provide an explicit third party endorsement of a merchant’s quality and reliability, thereby helping eliminate consumer uncertainty.

The buySAFE bond option in checkout reportedly provides shoppers a choice to purchase a bond with two benefits: a full guarantee of the transaction terms of sale up to $25,000, and thirty days of identity theft protection service.

The benefits of the bond option provide uncertain shoppers an added level of confidence, which in turn makes them more likely to buy. Together, the VeriSign and buySAFE products address the two key sources of consumer uncertainty: information security and merchant reliability, the company said.

Jeff Grass, president and CEO of buySAFE, said: VeriSign’s leadership in authenticating and securing Web sites now combines with buySAFE’s expertise in ensuring confident, fully guaranteed online shopping through bonding. At a time when consumer confidence is low and online shoppers feel uncertain, the confidence that online merchants can build with VeriSign and buySAFE is invaluable.

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