VeriSign Adds buySAFE Merchant Bonding Solution To Online Business Portfolio

— November 01, 2009

VeriSign, Inc. the provider of Internet infrastructure services for the networked world, announced it is broadening its portfolio of trust-building solutions for online commerce with buySAFE, Inc.

buySAFE provides online merchants a bonding solution that inspects the merchant's business, monitors their performance and enables shoppers to bond their purchases, which has been shown to significantly increase Web site conversion, sales and customer loyalty.

Under terms of a new alliance, VeriSign will promote the buySAFE solution along with its globally trusted VeriSign Secure Sockets Layer (SSL) Certificates and VeriSign Secured Seal solutions. Together, the two offerings make it easier than ever for online businesses to cultivate trust with consumers.

VeriSign SSL Certificates with the VeriSign Secured Seal help assure consumers that their transactions and personal information remain secure. buySAFE's bonding solution assures shoppers that the merchant is reliable, stable and able to deliver on the promises made. The solution is designed to increase shopper trust and confidence in the merchant, thus increasing Web site conversion, generating more repeat buyers and increasing merchant profitability. As a result, online shoppers and merchants both benefit.

"As the most trusted brand on the Internet, VeriSign has long provided solutions that help online merchants boost consumer confidence by establishing trusted relationships, and today's announcement continues this commitment," said Chris Babel, VeriSign's senior vice president and general manager, authentication. "Combined with VeriSign SSL protection and the VeriSign Secured Seal, buySAFE's bonding solution enables online merchants to build greater confidence with online shoppers, helping drive conversion rates and revenues."

buySAFE is a two-part trust solution. The buySAFE Seal provides an explicit third party endorsement of a merchant's quality and reliability, thereby helping eliminate consumer uncertainty. The buySAFE bond option in checkout 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. buySAFE has been shown to increase Web site conversion 10.6 percent on average, making buySAFE's free solution highly profitable for online merchants. Together, the VeriSign and buySAFE solutions address the two key sources of consumer uncertainty: information security and merchant reliability.

"We are excited about our alliance with VeriSign, as we offer highly complementary solutions for online merchants," said Jeff Grass, president and CEO of buySAFE. "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."

The VeriSign Secured Seal appears on Web pages of merchants whose identities have been verified by VeriSign through SSL certification. Site visitors click on the seal to verify a merchant's site information in real time. Sites secured by VeriSign SSL and that show the VeriSign Secured Seal have been shown to experience lower shopping cart abandonment and increased visitor-to-sales conversions.

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