posted on July 11, 2001 10:34:53 AM new
I'm here to learn and I'm getting ready to jump in. Can you sages of the auction world give me the good, the bad and the ugly of online payment systems. PayPal, yahoo paydirect, c2it and billpoint? Seems like I should offer a few, sort of like accepting Amex, visa and mastercard - but can I make one the prefered payment, and then which one? I've seen the topics regarding price increases by billpoint and paypal, plus the lowroad each seems to be taking, which is a turn off, but I'd like to hear what you like, and what's likely to happen in the near future. any and all advice is welcome, or if you can point me to a source that's great too.
thanks in advance. wb
posted on July 11, 2001 02:00:25 PM new
My preferred method of payment as a seller is money order or cashier's check OR BidPay, because they cost me nothing to accept! That does not seem to be my customer's preferred method.
As a buyer, I prefer PayPal, PayDirect and BillPoint simply because they are quick, easy to use AND they do not cost me anything to use them.
Call me quirky, but as a seller I prefer those using a payment service to use the one "branded" for the site.
I have found that the majority of my buyers, when given the various options, will choose PayPal! Why? I think it is because if they already have a PP account it (presently anyway) can be used on ALL auction sites and they don't have to keep track with what card is used with which service or have a lot of different companies playing around with direct drafting from their checking accounts should they choose eCeck or electronic debit options!
In otherwords, it is very flexible for them as buyers.
Now, I have noticed for the past several months that those buying from me on eBay are beginning to use Billpoint more. It may be because most of my buyers (lately) seem to be fairly new to eBay (just lucky like that) and they feel safer using Billpoint because it is an affiliate of eBay. Not sure if this is just a trend and once they "find" PayPal, they will prefer it.
Personally speaking, if I was new to the internet/auctions, I would probably sign up with PayDirect for Yahoo and BillPoint for eBay because they are those sites' "branded" payment service and I would just feel safer using them.
I don't think I would have ever been "brave" enough to sign up for PayPal if I had not been encouraged to, and talked through the process by, a seller I was dealing with who preferred them.
By the time PayPay got around to requiring bank information for verification, I had been using them as a buyer and seller for almost a year and wasn't so paranoid.
Try getting a brand new "newbie" to just fork over all that information to PayPal for the first time....not easy to do, not for me anyway.
Yet, if I mention have you tried Yahoo's PayDirect or eBay's Billpoint, they seem not so reluctant to sign up with them and make their "first purchase" through them!
I guess what I am trying to say in my long winded way is.....Brand Recognition!!!!
If they are seasoned buyers...PayPal or BidPay will do fine.
If they are brand new to the internet (yep, still get those all the time) then they will be a bit apprehensive about giving their personal info to PayPal (the first time anyway) and you'll need to "talk them through it". You won't have as much trouble with getting them to try PayDirect (they already had to give Yahoo credit card info when they signed up) since all they have to do is duplicate what they have already done!
Same goes for eBay's BillPoint.
That's my observation on it anyway.
As for the other's, I haven't used them because quite frankly, I am beginning to have trouble keeping up with all the options myself!
posted on July 21, 2001 06:31:40 PM new
HI and Welcome to the Auction World
Key word from Sulyn is "FLEXIBLE".
When paypal and all the other electronic payment systems came out -- I resisted. I am a full time auction seller. Eventually, I gave in and my sales increased.
I stick with the basic 3 (for me) that is
Paypal (very happy with), Yahoo paydirect (partly because I also sell on Yahoo), and Billpoint (sparingly) for my Ebay buyers.
I also will accept checks and money orders. Recently, I've started shipping overseas too.
SALES are increasing! Provide good customer service and you'll succeed!
Best of luck to you.
Janet
AuctionsRFun.com
Yahoo ID: AuctionsRFun
