Alliance to appease online shopping fears

CommSecure, which provides secure online payment solutions, will become SafeTrade's preferred internet payment gateway provider. In return CommSecure will recommend its customers adopt internet insurance from SafeTrade.

SafeTrade provides online insurance to consumers against credit card fraud and non-delivery of goods through HIH Insurance, which has a 10 per cent stake in the company.

Additionally, according to executives from both organisations, the partnership is expected to increase the number of consumers actually shopping online as well as customers for both CommSecure and SafeTrade.

According to statistics released by Citibank recently, 60 per cent of Australian internet users still do not trust the internet with their credit card details. Additionally, a 1999 study by IMR Worldwide revealed that although 3.6 million Australians are using the internet, 90 per cent are yet to transact online.

Howard Davies, chairman of SafeTrade, said that both SafeTrade and CommSecure are "committed to eliminating barriers of entry" to online purchasing and overcoming the consumer fears.

"It's entirely consistent that a company like SafeTrade should identify with a company like CommSecure . . . we are both there to give confidence to buy online," he said.

According to Davies, SafeTrade, which has been in operation in Australia for seven months, has 63 customers and is yet to process a claim.

"We're not in the business to make a crappy site look good . . . it would be a concern to us if we had a flood of claims," he said.

"We are addressing the perception (that online payment is insecure). We are using insurance as a marketing tool to encourage people to buy over the internet."

According to Davies, the company is working towards an IPO later this year, which will provide funding for a number of new growth opportunities, including new solutions to protect merchants, and partnerships with credit card companies, telephone companies and online share trading organisations.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Luisa Bustos

PC World
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?