posted on July 29, 2000 01:31:24 PM new
Does anyone know anything about Yahoo Paydirect?
I haven't really done any research to find out details about it, I just noticed a link to sign up for it while I was listing auctions. Was wondering if anyone has used it yet or has found info about it. If you have, please share! Thanks in advance.
posted on July 29, 2000 04:40:03 PM new
OK, guys, here's the scoop:
I first saw it mentioned when I went to list an auction. When you list an item, Yahoo offers you checkboxes for the payment options you accept. There's a checkbox that allows you to enable PayDirect.
I found all the info for PayDirect under the Yahoo auctions "help" menu. It's listed under selling tools.
I just signed up for the service. The coolest thing to me is that if people pay for your auctions with the service, you can have the money they pay you credited to your credit card. (Or you can use it to pay other people, or put it in your bank account if you have one.) I'm so excited about this service! Now I can accept credit cards even though I don't have a bank account!!
Right now the service is free. But they say there will be fees. Also right now money in your PayDirect account is NOT FDIC insured. But to me these risks are worth it.
One more VERY GOOD reason in a long line of good reasons to list auctions with Yahoo!!
posted on July 29, 2000 09:02:57 PM new
I predict that within a very short period, they will start charging for this just like billpoint and 1-click. And they will offer incentives to the customers to ask for it and sellers will feel pressured to have to accept it. I signed on for 1-click back when if you used it, you didnt pay the listing fee, so it was essentially free. Then they started charging for both the listing and 1-click, so I was paying over 5%. So I cancelled 1-click. But for some reason, my new auctions would suddenly accept 1-click anyway. So now I have stopped listing on Amazon because I was tired of losing money. Yahoo's customer service is about the worst of any auction site and it is next to impossible to get anything other than a canned reply to a question. These are just some things to consider before accepting paydirect.
posted on July 29, 2000 10:55:51 PM new
While I certainly understand where you're coming from, I don't personally care if there are fees, as long as they are kept reasonable.
I haven't thus far signed up with any 3rd party payment service due to the fact that I don't have a bank account, not due to the fees associated with said 3rd party services.
I refuse to accept BillPoint due to a personal vendetta against Wells Fargo bank, not because of the fees associated with them. (It was a Wells Fargo screwup that has made it impossible for me to have a bank account right now, and I wouldn't voluntarily give them another penny of my money.) I haven't signed up to use PayPal because of the difficulties involved with getting money in hand from them since I don't have a bank account.
A 3rd party service that will credit my credit card if people use the service to pay me is GOLD!! So I'm really optimistic about this.
posted on July 30, 2000 04:44:36 AM new
yisgood - I have not checked it out, oe even seen the link for that matter, but why do you think they will be charging? Unlike Amazon, auctions are still free and Ebay's attempt to charge for a payment service has been basically futile. It does not seem to me that Yahoo will bother to repeat Ebay's failure.
[ edited by VeryModern on Jul 30, 2000 04:47 AM ]
posted on July 30, 2000 05:13:24 AM new
Well I signed up - it took 60 seconds, I already have a Yahoo Wallet. One major downside is that if you are selling with more
than 1 id and need several paydirect accounts, then money will be going in all directions and be an accounting nightmare.
Paypal's multiple email addresses on one account is a perfect solution but it does not seem Yahoo has one. I have posted them
to ask.
yisgood - when I signed up I saw where it said "may charge in the future" but where will most cyber places that means
tomorrow, with Yahoo it may very well just be in there for CYA purposes - and they have no intention of charging in the
foreseeable future. It is not that I am such a Yahoo fan (although I am), it is just that trying to charge is futile as long as Paypal
does not.
posted on July 30, 2000 05:14:37 AM new
Oh! And know that I joined, I wonder if EOA notices Yahoo sends to buyers will include a link to pay this way. If anyone gleans any info, please post.
posted on July 30, 2000 06:28:54 AM new
Talking to myself I guess, but I just signed up all my id's and was able to use the same credit card and checking acct. with each
so that's part of the battle.
I guess the next thing to decide is which is least worst. All id's send their $ to one id and then withdraw - or have 3 id's
withdraw to the same acct and so tons of little deposits to wade through each month.
Why bother when there is Paypal? Because it is seamless, and to support Yahoo, who has saved me literally hundreds and
hundreds of dollars of fees. If they can make some bucks off the float of the sales of the auctions that they graciously host for
FREE - well, sign me up!
Folks, this is one way to help keep Yahoo auctions free.
posted on July 30, 2000 08:48:03 AM new
I have also sold lots on Yahoo and would be willing to pay them. Unfortunately, Yahoo does not understand that when people pay, they expect something in return. Yahoo started the featuring option a while back and I thought, "Great, here's my chance to pay them something and get better service." First, a bunch of auctions were won by deadbeats. Of course there is no refund of featuring fees, so this was money wasted. Then when I relisted, the items automatically came up featured even though I didnt want them to. Then I paid $2 a day to feature several digital cameras and even though I was charged $14 each, on the second day they were no longer featured. I emailed Yahoo and got a canned response so I had to call long distance several times, waiting on hold until someone tried to say I must have done something wrong and I had to show them where I was being billed for it while it wasnt showing up. I did get the credit but after spending over $80 in wasted listing fees (fortunately most of it was credit for my high ratings so I was only about $12 out of pocket) I discovered that it was just a waste of money. I have not had good experiences with Yahoo support and I would not trust them to handle payments.
posted on July 30, 2000 03:58:25 PM new
I'm pretty sure Yahoo Paydirect used to be called DotBank, which Yahoo bought several months ago. Yet another payment method I've tried and LOVED is Achex -- they work from any existing checking account to any other so no one else gets the interest or "float" -- and it's free to everyone...
posted on July 30, 2000 04:32:10 PM new
I just heard back from Yahoo - and they confirmed that you cannot link various id's to one account at this time. Too bad, this hurts efficiency, but on the upside, the icon looks marvelous. You can't miss it but it's not in your face.
posted on July 30, 2000 05:21:26 PM new
VM- that is kinda frustrating, huh? I did get a giggle out of your "money flying in all directions" post. Imagining all that money flying around is enough to make me giddy & happy though!
Do you guys think Yahoo'ers will sign up for the service & use it?
posted on July 30, 2000 05:38:39 PM new
CAgrrl - I think they will sign up and use it but that it will happen slowly like everything else does on Yahoo. Yahoo grows on you. Less pomp and flash, but built to last.
Heavy users like me will sign up immediately.
Why not?
I have 300 auctions running, a Yahoo wallet, Yahoo mail, my portfolio on Yahoo, several clubs and stock boards I frequent, I use Yahoo shopping and on and on and on.
posted on July 31, 2000 01:35:58 AM new
I signed up for it yesterday, also to support Yahoo (since I'm perfectly happy with the free service I get from PayPal).
It doesn't appear, though, that it is grandfathered into auctions listed BEFORE they started offering it, so it will be quite awhile before it's offered in all my auctions. (I, too, have over 300 auctions running on Yahoo, and I'm not ABOUT to close them to include Yahoo PayDirect. I'll just wait until they close and I HAVE TO relist!)
I think it will be slow to catch on, especially since it won't appear in old auctions until relisting time. But once bidders discover it, it will take off like PayPal did.
Unfortunately, it's only for U.S. CCs, so my international bidders are still left out of the equation (and they'll COMPLAIN about it, too, just like they have about PayPal!!!)
posted on August 1, 2000 01:14:42 AM new
You do have a point, Grannee- I'm not relisting any auctions either. Forget that idea.
It's such tricky business selling internationally, isn't it? I've been very satisfied with the few international transactions that I've done, but it always does seem to involve extra legwork one way or another. An easy way to accept international credit card payments sure would expedite the whole process... hopefully we'll have that soon...but I can understand why it hasn't happened yet as international fraud is so rampant.
posted on August 1, 2000 02:02:57 PM new
Just signed on to Paydirect. Went to my current auctions and under manage auction went to edit auction and added to the Paydirect feature. Now shows on listing. Hope it works. Also they mention transferring funds to your credit card or checking account; it can also be transferred to a savings account.
posted on August 6, 2000 01:46:39 AM new
I've been following the whole PayPal thing in the other forums on this board with interest.
I'm doubly excited now that we have PayDirect when things with PayPal are so wacky. (I never did sign up for PayPal but was within inches of doing so a few days back, right before this whole thing erupted.)
Now I'm a little nervous though. Is PayDirect going to face pressure to offer "fraud protection" as well? After all, the one example of fraud that's being beaten to death did unfortunately originate at Yahoo.
Please just reassure me & tell me I'm being paranoid!
posted on August 6, 2000 05:01:21 AM new
CAgrrl - I would relax. Yahoo is berry berry good to sellers historically.
I think they know that we have value.
posted on August 12, 2000 01:22:08 AM new
Just got my first payment through PayDirect!
YAHOO!!!
It was very easy, except for one thing. I don't have the buyer's address!
This is not a huge problem as I can always email her. I was kinda hoping that Yahoo would provide the correct billing address though, to help alleviate some of my paranoia about stolen credit cards.
posted on August 12, 2000 10:01:46 AM new
Pay-this Pay-that-Pay-who? What a tornado of change going on and we are all getting swept along with it....but exciting and wouldn't miss it for the world!
OK- so far using Paypal-- and after a few glitches, mostly mine ;-( it is working fine now. Not too happy with the time lag on PP mailed pmts- and I think they have shortened the loooong time it took to hit bank account.
However, the latest grip on all this with PP IS: if a customer isn't happy, they can "back charge your acct " Anyone have a prob with this yet ( don't anticipate it but who knows)
I read the "verify" your acct and win 10,000 but- was very suspicious...I believe by this verification,(don't quote me) it allows them to request that you deposit $ to cover a charge back refund.
I for one will state on my auctions: refunds ONLY through seller, NOT any credit service. After all, we've allowed too many folks to participate in our transactions as it is already....we don't need CC services tell us, "we just gave them a refund" now cough up the $$$
I truly believe this BETTER be addressed soon with all these services or I see a nightmare of problems to come.
Off to investigate Paydirect a little closer......Thanks for info!!
posted on August 12, 2000 10:20:19 AM new
From Paydirect HELP:
>>>>Please also note that transactions used to fund your PayDirect
account are separate from any payment transactions made via
PayDirect. You may not dispute or charge back a transaction
used to fund your PayDirect account on the basis of any dispute
with a recipient over an amount owed; the quantity, quality, or
safety of goods or services purchased; whether or not goods or
services have been shipped, received, or performed; or any other
aspect of your relationship with a recipient. This is true even if
you used your credit card to fund your account.
posted on August 13, 2000 02:02:43 PM new
I'm glad I wouldn't be charged back, but I still would like the comfort level of knowing that I'm shipping my item to the same billing address that is on the card. Credit card fraud will continue to be an issue. Just because I won't personally have to pay if a fraudulent transaction occurs, I still don't want anything to do with any part of a fraudulent transaction.
