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SquareTrade a Top Site for Verifying Canadian Pharmacies

Licensed Pharmacy Program in Partnership with the National Community Pharmacists Association

June 28, 2004 - Senior citizens are increasingly turning to the Internet in search of the much less expensive prescription drugs available from Canadian pharmacies and one popular site to verify the licenses of online pharmacies is SquareTrade. Yahoo is using SquareTrade as a source before approving Canadian pharmacies for advertising with their Overture program.

Last February, SquareTrade ( announced a partnership with the National Community Pharmacists Association (NCPA,, which represents the nation's community pharmacists, to launch the SquareTrade Licensed Pharmacy Program.

The SquareTrade program verifies the licenses of pharmacists and pharmacies offering prescription drugs and services for sale via the Internet. Yahoo!'s wholly owned subsidiary, Overture, was the first to launch the program.

Pharmacies wishing to participate in the program are required to complete an application with SquareTrade, certifying that they are complying with the jurisdictional laws where they are located and where they sell medicines to consumers. SquareTrade will independently determine whether the pharmacy is licensed in the state in which it resides. Once the verification process is successfully completed by SquareTrade, the pharmacy website will display the SquareTrade Verified Pharmacy Seal. Consumers will be able to click on the SquareTrade Seal to view verification information, pharmacy commitments, and other program details.

"Consumers are increasingly turning to the Internet for the convenience it offers in accessing information on pharmacies and pharmacy services," said Bruce Roberts, R.Ph., executive vice president and CEO of NCPA. "With the rise in consumer interest, we have seen illegal pharmacy operations exploit the Internet and consumers. Our partnership with SquareTrade gives our members and other legitimate pharmacists and pharmacies the opportunity to assure consumers that their websites are appropriate places to conduct their pharmacy business."

"We are proud to bring our patented Trustmark technology, which is already in use in a number of other marketplaces, to the pharmacy market," said Steve Abernethy, CEO of SquareTrade. "Pharmacies doing business via the Internet will benefit from the increased trust created with consumers, who will now more easily be able to see authenticated license verification, which helps differentiate verified pharmacies from ones with no licensing credentials."

Overture has announced that it will use the SquareTrade program as the platform for its Online Pharmacy Qualification Program. Only pharmacies that have been approved by SquareTrade will be allowed to bid for placement in Overture's search marketplace.

"We are pleased to partner with NCPA and SquareTrade as the first company to utilize the Licensed Pharmacy Program," said Doug Leeds, senior director, Overture's Trust and Community group. "This innovative new program furthers Yahoo!'s mission of providing a more trusted online environment for consumers. In addition, this program will benefit advertisers that provide legitimate online pharmacies."

Should a pharmacy be found to have violated its commitments, or if its license is revoked, SquareTrade can dynamically disable the seal so it is no longer visible and notify regulatory agencies and advertising platforms so that the pharmacy will no longer be displayed in search results.

The program is also integrated with SquareTrade's leading online dispute resolution service to provide consumers with an easy means to resolve problems, as well as forward suspicious activity to licensing bodies, should an issue ever arise with a pharmacy member.

About The National Community Pharmacists Association

The National Community Pharmacists Association (NCPA) represents the nation's community pharmacists, including the owners of nearly 25,000 pharmacies. The nation's independent pharmacies, independent pharmacy franchises, and independent chains represent a $67 billion marketplace, dispensing nearly half of the nation's three billion retail prescription medicines.

SquareTrade describes itself a leading provider of online trust infrastructure, including merchant verification and reliability programs, and the world's largest online dispute resolution service. SquareTrade's primary mission is to build trust in transactionsTM and create a safer ecommerce experience. SquareTrade's patented and patent-pending systems and services create an easy way for buyers to recognize verified sellers through dynamic customized SquareTrade Seals and provide and easy way for buyers and sellers to work out problems online. SquareTrade serves a broad range of industry leaders, including eBay, Overture (a wholly owned subsidiary of Yahoo!), and the California Association of REALTORS.


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