posted on May 22, 2001 01:37:28 PM
I was just wondering about what percentage of buyers pay using BidPay (for those sellers that offer that as an option)... I was thinking of accepting this as a payment option for my auctions, but a $5.00 fee on anything under $100 seems kinda high.
posted on May 22, 2001 01:51:29 PM
International bidders are generally charged $8+ for a money order (by post office or bank) so the $5 fee BidPay charges is cheaper.
posted on May 22, 2001 03:47:51 PM
Jonathon- hope you understand that the seller pays no fee. I had it used from Netherlands the other day. Wow- talk about painless and business-like. Today I have a nice WU money order in my hands. You may as well say you'll take it, it's free and easy.
posted on May 22, 2001 05:37:01 PM
I get them mainly from bidders outside the US. I lovem. They are easy, dont cost me anything, and speed up those payments a whole heck of a lot.
They're really only useful for out of country or just plain lazy bidders. I still go to the post office myself and pay 80 cents when I need one.
posted on May 23, 2001 05:03:58 AM
I've had numerous US buyers use them and some for items under $50.00. Actually, when you factor in the cost of the money order (postal money orders are going up July 1), the envelope, the stamp, the cost of gas to run to the post office or the corner store, and the ability to use your credit card to purchase a money order, the $5 fee isn't that bad. And remember, you can pay without leaving your house, so in bad weather or late at night BidPay is there to use.
posted on May 23, 2001 10:22:15 AM
Just used BidPay for the first time as a buyer--bought a low-priced CD from a Canadian seller, and as paintpower says, once I factored in the cost of going to the P.O. (pretty far away), postage to Canada, an international MO, etc., the $5 seemed a small price to pay for the ease of use.
As a seller, I love BidPay--most of my Japanese customers use it, and it's been smooth sailing all the way. Even if you only have a few international transactions, offering BidPay means more bids.
(edited for typo)
[ edited by AndieBelle on May 23, 2001 10:24 AM ]
posted on May 23, 2001 10:53:49 AM
Definitely worth it in my opinion - even for cheaper items like the others said - also it is an indication you are 'international bidder-friendly' and that helps get more bids too!
posted on May 23, 2001 11:15:07 AM
I have used BidPay as both a seller and a buyer. I love it from a seller's point of view. For all the already stated reasons.
As a buyer, I have used it, but only when there was no other option offered by the seller. This is usually on auctions where the seller accepts "MO only" or if I wanted to use a credit card and BidPay was the only option offered that allowed that.
I have noticed an increase in the number of sellers in my favorite category who now offer only BidPay for those who wish to use a credit card. Other online payment services are no longer options. As a buyer, I am not always happy with that, but if it something I reaaaaly want, I'll spring for the BidPay price of a money order.
If you are thinking of adding it as another option, I think that's great. If you are considering accepting it instead of another online option, it could slow things down for you. Not necessarily though. It is convenient even for buyers. The fee is a little high, but you will always have buyers who are more concerned with convenience than cost efficiency (luckily )
posted on May 23, 2001 11:19:43 AM
I think BidPay is a neat concept and usually works quite well, but I have had terrible luck with their customer service. Multiple e-mails sent and no one has ever answered me. Kinda' bugs me, so I do not advertise for them...
posted on May 23, 2001 12:05:36 PM
I am not registered with BidPay. However, I have a least one bidder a week pay me using BidPay. I simply do not ship until the payment is actually received in the mail.
)