“buySAFE’s online bonding solution is uniquely special and this patent now broadly protects our solution for increasing trust, confidence and safety in online shopping via a safe transaction guarantee,” said Jeff Grass, buySAFE's President & CEO.
Arlington, VA (PRWEB) April 6, 2010
buySAFE, Inc., the leading provider of consumer confidence and website conversion solutions, announced today it was awarded a patent from the U.S. Patent and Trademark Office for a method of providing safe online transactions that include a third-party guarantee of merchant performance. This “safe transaction guaranty” patent award marks a milestone in buySAFE’s growth and development as it recognizes the unique solution buySAFE has developed in providing third party guarantees in internet transactions. This solution is a giant leap forward in increasing confidence and safety in online purchasing.
"We filed the patent application almost seven years ago on April 23, 2003 and we’re thrilled to finally have a positive outcome on our invention," said Jeff Grass, buySAFE’s President & CEO. “buySAFE’s online bonding solution is uniquely special and this patent now broadly protects our solution for increasing trust, confidence and safety in online shopping via a safe transaction guarantee."
The buySAFE bonding solution for ensuring virtually risk-free online shopping through merchant inspection, monitoring and a broad third-party guarantee of performance is fast becoming the online standard. The primary reason for its success is that it provides a win-win solution for both parties to the transaction – shoppers and merchants. Online shoppers enjoy increased confidence and safety when making a purchase and online merchants enjoy improved business performance as increased confidence drives increased website conversion, sales and profitability.
buySAFE, Inc. was awarded U.S. Patent Number 7,644,019 by the USPTO on January 5, 2010. The inventors were Steven L. Woda and Jeffrey E. Grass who have assigned full ownership rights in the patent to buySAFE, Inc. Additional information on the patent can be found on the UPSTO website at http://www.upsto.gov
About buySAFE, Inc.
buySAFE, Inc. provides eCommerce bonding services to e-retailers that build consumer confidence and provide significant financial and brand building benefits. buySAFE's solution is backed by the financial strength of Liberty Mutual, Travelers, and ACE USA and its identity theft protection services are provided in partnership with Assurant Specialty Property. With over 5 billion views of the buySAFE Seal, 20 million bonded purchases and over 3,000 buySAFE Merchants, buySAFE is widely recognized as a leader in providing confidence and safety for online buyers and increased sales and profits for online merchants. buySAFE's investors include Grotech Ventures, Core Capital Partners, VeriSign, Inc. and The Hartford Financial Services Group. For more information, visit: http://www.buysafe.com
For Media Contact:
Hans Dreyer, VP
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