posted on February 19, 2001 11:13:54 AM new
Hi fellow AW'ers!
We currently accept PayPal and Billpoint (plus checks & money orders) on our auctions. With the demise of ExchangePath (at least we got a free listing day out of the deal!!), we were looking at adding other payment services.
What are your thoughts &/or experiences with BidPay or others? BidPay has appeal since the buyer pays for the service, not us!
Please provide all your sage advice.
[ edited by harmonygrove on Feb 19, 2001 11:14 AM ]
Yes, Bidpay is free to the seller but they really get the buyer. I believe it's $3 per money order! I used to advertise it, but when I found out how much they were charging, I took it out.
I tried to offer other payment services, but they just kept going out of business too fast. I just now advertise Paypal. I will take Yahoo Pay Direct, but I don't put it in my auctions.
In my EOA I mention Yahoo, and I have had a couple people use it. Right now it's free, but that will probably change soon.
The other thing about Yahoo Pay Direct is they only have one banner available (as far as I can see) and it's huge! I'm sure it would be illegal on Ebay.
posted on February 19, 2001 11:36:41 AM new
It's $5 per transaction to the buyer, actually. But in some instances that is a good deal for the buyer. And the service is very good. Especially with a higher ticket item the $5 isn't that much to most people. I've heard some sellers say they share the cost.
posted on February 19, 2001 11:36:59 AM new
BidPay is great for international transactions. It was the only payment service that could be used to conduct a recent transaction with a buyer in Turkey.
The e-mails have always been timely and the payment is quite fast.
posted on February 19, 2001 12:02:11 PM new
Bidpay is excellent, safe & quick, good e-mail communication.
It does charge a somewhat higher fee for purchasing their money orders, but it has worked fabulous for international transactions, and numerous U.S. bidders (I'm in Canada) use it as well -- its their option, and some don't seem to mind, and as I take numerous other forms of payment, it's no bother to just offer it too.
posted on February 19, 2001 12:04:59 PM new
Bidpay is probably the safest payment method out there for both buyer and seller. For buyer: bidpay checks out the seller's rating anr prevents newbies from bidding on auctions of shady characters. For sellers: there are no charge backs. They charge $5 for up to the first $100 and 2.25% after that. If you look at the whole picture, bidpay often comes out cheaper than any other method for foreign transactions.
Paypal charges the seller 2.3% and the buyer a 2.3% "conversion fee" (even though the conversion is actually done by the bank behind the credit card and the buyer is charged for that. So PP charges for something they didnt even do.) On a $200 item, seller pays 4.60 and buyer pays 4.60 with paypal. With bidpay, either the buyer pays 7.25 and seller pays nothing, or (if seller understands the advantages) seller may offer to split with buyer and each pays 3.63. So both get a cheaper and safer method.
For other services, read Online Payment Service Ratings
posted on February 19, 2001 12:45:06 PM newyisgoodOn a $200 item, seller pays 4.60 and buyer pays 4.60 with paypal. With bidpay, either the buyer pays 7.25 and seller pays nothing, or (if seller understands the advantages) seller may offer to split with buyer and each pays 3.63. So both get a cheaper and safer method.
My math works out different. (check your calculator yisgood)
BidPay MO for $200.00 cost $10.00
PP fees for US seller and international buyer on a $200 would be $5.50 for the buyer and $4.70 for the seller. (some international buyers are also sellers, they use existing PP funds to make purchases, those transactions cost them nothing)
PP fees for the international seller and US buyer on $200.00 would be $5.50 for the seller no fees for the buyer.
When the item costs $20.00 then we get to see some really drastic differences.
BidPay MO = $5.00
PP fees for the US seller 74¢ fees for the international buyer 82¢.
posted on February 19, 2001 02:24:10 PM new
Uaru: You may be right on the PP fees since I wouldn't use that poor excuse for a "service" on an international transaction. They are already doing such a poor job "protecting" folks within the U.S., I would hate to think of the problems on International deals.
On Bidpay, you better check your calculator. It's $5 for up to $100 and 2.25% over that, so a $200 transaction is $7.25. Still cheaper than Paypal and a whole lot safer.
posted on February 19, 2001 04:13:39 PM new
Actually if you have to drive very far to get your money order, BidPay probably comes out about the same! With the price of gasoline, a 20 mile round trip to town in my truck takes 2 gallons - that's $3.00 right there, then you have to pay for the money order, pay for the envelope and buy a stamp. Plus you have to get out of your warm little nest, get dressed and go get the money order. With BidPay you can just take care of it without ever leaving your computer!
posted on February 19, 2001 04:45:37 PM newyisgoodOn Bidpay, you better check your calculator. It's $5 for up to $100 and 2.25% over that, so a $200 transaction is $7.25.
yisgood,
A BidPay Money Order for $101.00 is $7.27. A BidPay MO for $200.00 is $9.50 (I was off 50¢).
posted on February 19, 2001 04:50:21 PM new
Uaru: You're correct. This change must have been made recently. It was a bit over a month ago when it was $5 for the first $100 and 2.25% for any amount over that. The $7.25 for $200 was the amount that a customer of mine was quoted.
posted on February 19, 2001 04:54:36 PM newyisgooodThis change must have been made recently. It was a bit over a month ago when it was $5 for the first $100 and 2.25% for any amount over that.
posted on February 19, 2001 07:55:25 PM new
I like BidPay for foreign bidders because they do an exhaustive fraud prevention on the Buyer to eliminate chargebacks. Plus, I have been told that the BidPay fee is usually much cheaper than other options such as int'l money orders or fees to get US Cash Dollars from their bank.
I can't imagine many people inside the US using this service as it's just too costly - $5.00 minimum for something you can get for 39 cents at the corner store.
posted on February 19, 2001 10:03:49 PM new
Wow, I am not sure I would want to buy a money order for $5.00. Buying it from the Post Office is much cheaper.
What happens if the seller never gets the money order BidPay sends?
-Trey
***********************************
"If your mind can concieve it, and you believe it, then you probably can achieve it."
posted on February 20, 2001 04:09:09 AM new
Don't forget ... you can buy this BidPay money order with your credit card! Can you do that at the post office or local store? Last time I checked if you wanted a money order from one of these places you had better have cash in hand!
posted on February 20, 2001 05:51:09 AM new
Not everyone has a "corner store" nearby. I'll bet lots of folks who buy on eBay live in rural areas where a trip to town is 10 miles or more. Way back when we lived in Marquette, it took 20 minutes to get to Marquette, and about the same amount to get to the small town on the other side of us, or to the Air Force base. If I still lived in that kind of area, it would be worth my time and effort to use a service such as BidPay. Now I have a Rite Aid within walking distance, but I still have to have cash in hand.
I've had three buyers use BidPay. Two for fairly new buyers on purchases over $50, and one from Canada. They got their items quickly, and I didn't have to worry about personal checks bouncing. The two newer buyers didn't want to wait while their checks cleared, and I didn't have to worry about my bank not wanting to deal with a check from Canada.
There are also some sellers who don't like the "corner store" money orders. If you have to drive over a couple of miles to get to your post office, the $5 charge starts looking better and better. If you first have to go to your bank to get cash, that is two stops, then the envelope, stamp, gas, and time used. Sometimes paying a bit extra is worth the time savings. To each his own...
posted on February 20, 2001 08:24:06 AM new
I've had several buyers, mostly international but a few domestic, use this service, and I like it very much. No fees for me, very timely delivery of the money order - MUCH faster than having to deal with international mail, that's for sure..
I've added it to my auctions in addition to Paypal, and have just added Pay Direct as an option as well...
