posted on December 22, 2000 07:39:47 PM
I have listed it as a payment option for about a month or so now, even made up a nice little clickable gif with their logo....but so far no one has used it, they seem to gravitate towards the paypal option. However, it has a great reputation and is backed by a well known company. The thing that impressed me was their security measures and the No chargeback option. Check out one of the regular AW poster yisgood, he has a great page on rating payment services, its one of the previous threads on AW....hey yisgood. are you around to post that URL again????? Pam
posted on December 22, 2000 08:01:45 PMThe thing that impressed me was their security measures and the No chargeback option.
I listed MoneyZap as a payment option on my auctions for 3 months starting back in August, nobody used it and I stopped listing it.
I think you should do your own research concerning chargebacks and other aspects of the liabilities associated with MoneyZap. If you think you can accept credit cards and have no liabilities you are in for a disappointing bit of news. MoneyZap's terms on chargebacks are clear and available in the TOU. Read the TOU and learn your liabilities on chargebacks and security breeches, don't depend on some stranger's synopsis.
CHARGEBACKS. With respect to any transaction, we reserve the right to seek reimbursement from a Receiver if we receive a charge-back related to an instruction to send funds through the Service. We may obtain such reimbursement by deducting the charge-back amount from the Receiver’s MoneyZap funds, reversing any credits to the Receiver’s checking account, charging Receiver’s bank card, or by seeking such reimbursement from Receiver by any other lawful means.
If you use MoneyZap as a buyer and decide on making a chargeback you will get the funds returned, but there is a fee involved.
Charge Back Fee. If you use your bank card to send funds to a Receiver and thereafter charge back a payment made to us for the transfer for any reason, we will charge a Charge Back Fee of $10.00 to your MoneyZap funds or bank card.
posted on December 22, 2000 10:51:54 PM
I replaced ExchangePath with MoneyZap (well I was forced due to mass EP suspension). But just like EP, no one has opted to use MZ to pay me. It seems highly secure from what I have heard, and all those security features make me want to wet my pants.
Oh, and my payment options are (electronic) PP, BP, and MZ.
posted on December 23, 2000 10:23:26 AM
I have received several payments through MoneyZap. The neat thing, I thought, was that it does NOT show approved until it is actually an approved charge! I like that. I ship when it's approved. (usually a couple days, but I prefer the security over the speed)
posted on December 23, 2000 04:36:41 PM
you can look at my ratings page for payment services http://www.ygoodman.com/payments.html. I give moneyzap a big thumbs up. I have had no trouble getting folks to sign up. I tell them they have a choice of sending their CC info to every seller they do business with or choosing a reliable, sercure service and only signing up once. Then they can read about the antics of Paypal and Exchangeplace, the closing down of Payme and Payplace and decide if they want to trust them or Western Union, which has a long history of managing money. It's all in the presentation and I get 3-4 new customers a week signing up.
No credit card service can guarantee no chargebacks. However, Western Union contacts the sender the first time money is sent and if a large payment is made to explain the rules. Folks are not so quick to charge back when a company like Western Union has directly spoken with them. I called MZ (their 800 number is always answered promptly, even on Sunday nite) and had a long conversation with a customer service person. He told me that they have never processed a stolen CC (folks have tried to sign up, but the payment never completed) and they never had a charge back where the goods were sent.
