Jumbomall Signs Strategic Partnership Agreement with WebAssured

Aug 28, 2000

Document date: Mon 28 Aug 2000 Published: Mon 28 Aug 2000 13:09:06 Document No: 136131 Document part: A Market Flag: Y Classification: Other   JUMBOMALL.COM CORPORATION LIMITED                                        2000-08-28               ASX-SIGNAL-G HOMEX - Brisbane +++++++++++++++++++++++++ E-commerce Technology Company Jumbo Corporation Limited, today announced that an agreement has been signed with WebAssured, a global leader in online consumer protection. The agreement has the potential to significantly boost revenue from store subscriptions in the Jumbomall and also increase shopper confidence. WebAssured was the first consumer protection service on the Internet and has accumulated over 5,000 trustworthy e-merchants in its program. Under the agreement, Jumbomall will market its e-commerce services to WebAssured merchants and also earn revenue by marketing the WebAssured services to Jumbomall merchants. As an indication, a 10% success rate would equate to approximately $108,000 of additional revenues. WebAssured provides a complimentary service to the Jumbomall by running background checks on merchants and provides a "seal of approval" to inform shoppers about safety. In addition, WebAssured operates a dispute resolution service to help online buyers and sellers resolve conflicts. Customers are protected by a $200 money-back guarantee that is backed by Lloyds, London. Chief Executive Officer of Jumbo Corp, Mr Mike Veverka, said, "WebAssured increases consumer confidence in buying online. This encourages more shoppers to buy at safer sites like Jumbomall." "In addition to this, WebAssured has already amassed over 5,000 stores that have not yet signed up with the Jumbomall. We will be marketing our services to these stores to boost our revenues", said Mr Veverka. The Jumbomall earns revenues by selling subscriptions to its e-commerce packages that enable merchants to build secure online stores. These e-commerce packages include services such as shopping carts, secure checkouts, payment clearances and promotional services through the chain of online shopping malls in various countries. The Jumbomall currently has over 4,000 stores from 50 countries.   For further enquiries, please contact. Mike Veverka, CEO PH: (07) 3831 3705 Fax: (07) 3831 9720


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