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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 (www.squaretrade.com)
announced a partnership with the National Community Pharmacists
Association (NCPA,
www.ncpanet.org), 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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