JUMBOMALL +14,95% , NEWS
rabbit : JUMBOMALL +14,95% , NEWS
Signs Heads of Agreement with Safetrade
Jumbomall announced today that it has signed a Heads of Agreement
Safetrade, an internet transaction insurance company, protects
consumers from fraudulent use of their financial information and
guarantees safe delivery of goods.
Underwritten in Australia by HIH Casualty and General Insurance,
Safetrade will also be supported in Europe and America.
The proposal will see Jumbomall receive a commission on every policy
sold, and on software that is required by Jumbomall merchants as to
enable the insurance facility.
Chief Executive officer of Jumbomall, Mr Mike Veverka, said Safetrade
would help reduce consumer fears and provide confidence in shopping
In Ernst & Young's Global Online Retailing survey released this
month, 47 percent of Australian households own a PC and 22 percent
have internet access. Of these, 5 percent have shopped online.(1)
"Jumbomall realises the going worldwide concern about online security
and privacy. Here in Australia, it remains the single biggest
impediment to consumers shopping over the internet, more so than in
other countries in which Jumbomall operates," Mr Veverka said.
"The proposed Safetrade deal will go a long way in addressing this
issue. In addition to its 128 bit encryption, and same day delivery
services with Australia Post and Yellow couriers, Jumbomall is an
even safer and easier place to shop online."
As previously announced, Jumbomall would he attending the CeBIT trade
show later next month.
In preparation for CeBIT, Mr Veverka will be leaving for Europe this
week to seek out possible agreements with companies based in London,
France and the United Kingdom.
Jumbomall is currently one of the world's largest online shopping
malls, with more than 3,000 stores across 50 countries. The company
has offices in San Jose, USA; Australia and Germany and is listed on
the Berlin stock exchange (code JUB) in addition to the ASX (code
For further enquiries, please contact:
BUSINESS & MARKET ANALYST
Ph: (07) 3831 3705
Fax: (07) 3831 9720