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A Better Way

Although he was an experienced eBay buyer, buySAFE founder Steven L. Woda got burned on eBay after buying a handheld computer from an online merchant. "I never received the product, and the seller basically disappeared," he recalls. "I lost all my money, and I thought, there has to be a better way!"

Inspired by frustration, buySAFE was born. Steve's background in surety bond underwriting naturally suggested that bonds would provide the ideal protection for buyers and provide a competitive advantage for online sellers.

Surety bonds have been used for centuries to guarantee business transactions involving buyers and sellers who do not know each other. Steve's innovation was to provide bonds to guarantee online transactions.

Steve wanted to create a positive online marketplace for all of the parties involved —buyers, sellers, and online transaction companies. "Our goal at buySAFE is to build a better online community for everyone by making it safer to buy products online," says Steve. "Buying online is not ridiculously risky, but it can be riskier than buying something at Macy's or Wal-Mart. At least at a department store you can see the product, meet the sales person, and know that you can return the product if you decide you want to return it."

buySAFE is also committed to leveling the e-commerce playing field for the "little guys" selling online, so that they can successfully compete against big retailers. Small merchants selling online face a major challenge in convincing shoppers to trust them since a small seller lacks a recognizable brand name. buySAFE helps sellers gain the trust of shoppers.

buySAFE is quickly transforming e-commerce by enabling shoppers to buy online worry-free. "Buyers no longer have to worry about who they are buying from, whether the product will arrive broken, or not arrive at all," says Steve. "With buySAFE, buying online can be just as safe, easy, and fun as buying in your favorite store. And selling online with a competitive advantage can be extremely profitable. It's a win-win situation for everyone."