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FAQ
CASETRUST is going global and, to do this, it plans to become a company and go public by the end of this year.
Associate Professor Toh See Kiat, chairman of CommerceNet and president of the Consumers Association of Singapore (Case), said that there were benefits for CaseTrust to go global.
Also, to be an effective trust-mark, CaseTrust must be recognised globally and it intends to achieve this in two to three years.
He said: "Like any other dot.com company, we are past the start-up stage and we need to get bigger funding.
"Going global takes money. We would need to corporatise CaseTrust."
Dr Toh made this point yesterday when CaseTrust signed up Cybersource, a homegrown company with international presence, to its stable of 480 retail outlets and 35 websites which have been accredited with the CaseTrust logos.
Noting that international recognition will not be easy to achieve, Dr Toh said: "Most traditional global brands took decades to be established.
"CaseTrust must do it at Internet speed."
Signing up Cybersource, he noted, has put CaseTrust in the international e-commerce arena.
The company is one of Asia's largest Internet companies. Its core business includes its e-commerce payment gateway to merchants. Mr Wong Jeat Shyan, a director of Cybersource, says the alliance is important because CaseTrust is an independent audit body that can give consumers more confidence when transacting in the faceless Internet realm.
The company plans to make it a requirement for all its merchants to be accredited by CaseTrust before they can use its payment services.
