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Trade Me Launches New Services

PRESS RELEASE - FOR IMMEDIATE RELEASE - 13 Jan 99 -

Trade Me Launches Shopping Basket And Payment Services

Trade Me today announced SafeTrader Shopping Basket, a service that allows web site operators to add shopping basket capabilities and payment processing services to their web-sites. Aimed at smaller site operators, the service can be setup within minutes and is free.

Based on the SafeTrader escrow process, buyers make payment to SafeTrader, who secures funds in trust until the merchant has delivered the goods. The buyer is given an inspection period, and may elect to return the goods. SafeTrader uses track-and-trace integration to confirm delivery of goods.

"This service provides NZ businesses selling goods within New Zealand to add shopping basket and payment facilities to their site in minutes." Managing Director Sam Morgan says. "We are now working to develop SafeTrader as a trusted brand. This is one of the major barriers to e-commerce - establishing trust with the person you are buying from over the Internet. With a trusted brand and trusted process, buyers do not need to rely so much on the good-will of the merchant."

Targeted at smaller web-site owners, the service is free to setup and maintain, with a 5% transaction fee levied on each order. Trade Me intends to trial the service in New Zealand briefly before launching it in Australia.

The service can be found at www.safetrader.co.nz/merchant/

ENDS



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