Jumbomall Signs Agreement with Australia Post
Nov 11, 1999
Document date: Thu 11 Nov 1999
Published: Thu 11 Nov 1999 00:00:00
Document No: 123695
Document part: A
Market Flag: Y
Australian owned, global on-line shopping mall operator, Jumbomall.com Corporation Limited (Jumbomall) has signed an agreement with Australia Post to deliver goods purchased online and provide shoppers with a COD (Cash on Delivery) payment alternative to credit cards on the internet.
Businesses may use the Jumbomall service to build a secure online store that is integrated with the package delivery and COD service from Australia Post.
Jumbomall Managing Director, Mr Mike Veverka, said signing the agreement with Australia Post was significant because it offered Australian merchants and shoppers a safe and secure way of sending and receiving their parcels.
In addition, Mr Veverka said that Australia Post also offered a "cash-on-delivery" service within Australia, which would provide an alternative method of payment for shoppers still hesitant about using credit cards on the Internet.
This, he said would put Jumbomall into a stronger competitive position as well as setting up additional revenue and profit streams.
Jumbomall is set to benefit from the agreement in the following ways:
* Additional revenues and profits as a result of using the range of delivery services offered by Australia Post;
* Additional businesses signing up with Jumbomall to take advantage of the complete service;
* Additional Australian shoppers that prefer the COD payment option instead of paying with credit cards over the Internet.
Australia Post has the largest delivery network in Australia with more than 4,400 outlets. The network extends around the world to more than 180 countries through alliances with overseas postal organisations.
Jumbomall developed one of the world's first online shopping malls which bring merchants and shoppers together.
The Jumbomall facilitates the process of buying and selling by providing an integrated service that includes security, banking and delivery solutions.
Jumbomall.com listed on the ASX (code JUM) on 15 September 1999, and on the Berlin Stock Exchange on 14 October 1999 (code JUB).
CHIEF EXECUTIVE OFFICER
FOR FURTHER INFORMATION
Mr M Veverka
TEL: (07) 3831 3705 (Bus)