The Investment, Industry and Information Technology Ministry (MIIIT), and the Malta Chamber of Commerce and Enterprise, have signed a Memorandum of Understanding for the setting up of the Trustmark Scheme.

The scheme will be based on the Euro-Label framework which has been adopted in six member states, namely Austria, France, Poland, Germany, Italy and Spain. The Euro-Label is a trustmark awarded to those online businesses that meet European standards of quality and security.

With a view to boost eCommerce and to enhance a general trust in online purchasing, the Investment, Industry and Information Technology Ministry has decided to actively address security-related concerns that to date still inhibit the take-up of online transactions.

The perception that online shopping can be risky, or that the data transmitted during a monetary transaction can be leaked to third parties with the wrong intent, is still very common.

Other concerns expressed by potential online customers relate to the genuineness and true representation of the products on display and to the uncertainty of a proper set-up for complaints handling or return of goods.

It is the mission of Euro-Label Malta to address such concerns and to increase customer confidence in online shopping. The display of the Euro-Label logo will be indicative of a trustworthy website, through which a reliable and safe service will be provided.

The MIIIT and the Chamber of Commerce are currently finalising the application procedure through which local businesses will be awarded the Euro-Label.

Euro-Label will be available to all online businesses in the near future.

Chamber president Victor A. Galea said that such an initiative was important to continue promoting eCommerce as an alternative means of doing business.

He said that this “Trustmark” scheme was also a key initiative in instilling safety and peace of mind for consumers, and “the chamber is proud to be in the driving seat of such a project for the benefit of both people in business and the consumers”.