Rediff.com has announced an alliance with United India Insurance to ensure all credit card transactions made on Rediff.com.
Through this tie-up the dotcom seems to be making an attempt to assure the surfers that on-line buying, at least on rediff.com is safe. Through this insurance tie-up, claims arising from fraudulent use of credit card on its site will be refunded within 15 days, through a simple process on receiving the information that card has been misused.
This assurance caters to Indian nationals only. The release issued by the website states, 'It would cover online card transactions undertaken by Indian national up to Rs 10,000 per transaction for any product shopped on its site'.
It also indicates that for the quarter ending September 2002, online shopping in India grew by 238% over the same quarter last year. During this period, payment through credit cards accounted for approximately 25% of all transactions. The company expects it to multiply at an even faster rate in future. "With this new initiative, we affirm our commitment to provide a secure environment for our users and are confident that more customers will now use their credit cards to shop on our site." Says Ajit Balakrishnan, CEO and Chairman, Rediff.com.
But how would it change the online consumer-experience. Says Ajoy Krishnamurthi, Vice President, e-commerce, Rediff.com, "They would be more confident, and feel secure. Secondly, we are assuring them that in case of misuse money would be refunded within 15 days, and I believe it would have a positive impact on the on-line buyers' psyche, as most of the on-line consumers in India are still worried about their cards getting misused."