Auctionbytes-NewsFlash, Number 1413 - November 17, 2006 - ISSN 1539-5065
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Overstock Terminates Trusted Merchant Program, Keeps BuySafe Program in Place
By Ina Steiner AuctionBytes.com November 17, 2006
Overstock.com Auctions has terminated its Trusted Merchant program but will continue working with BuySafe to promote bonded auctions on eligible seller listings. BuySafe had powered the Overstock branded program. A letter from Overstock.com to merchants stated, "because BuySafe is becoming known as a brand you can trust in the auction community, we have decided to discontinue the Overstock.com Trusted Merchant Program."
Overstock Auctions first announced the Trusted Merchant program in March 2005 and officially launched it in June 2005. The program enabled qualified Overstock Auction sellers to become bonded through BuySafe, giving them the ability to guarantee transactions up to $25,000. Overstock.com had displayed both the Trusted Merchant and BuySafe logos in search results. Search results will continue to display the BuySafe logo next to bonded merchant listings.
BuySafe recently launched an API and developers program, further expanding its service beyond the eBay marketplace where it launched its program for sellers in 2003.
