CommSecure Australia and Internet insurance company SafeTrade are hoping to alleviate consumer fears around online transactions in a partnership announced recently.
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 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 Net, 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 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.