See also:
Using Online Payments
Paypal Features:
• Free Personal
Accounts
• No fees to send cash
• No storefront or website required
• Easy approval process
• Send money to any e-mail address
PayPal
Review:
Accept credit cards & send money online without a costly Merchant
account...
People can now pay online for auctions, goods and services with a VISA or
MASTERCARD, without the usual hassle of a Merchant account. Users
register at
Paypal
for free, and then can send and receive funds through their e-mail address.
Again, registration for personal use is free. Premier and Business accounts
available for a small fee.
Paypal
is great for ebay
and other website purchases. It allows faster & easier payments for
bidders as well as convenient payment acceptance & post-auction management for
sellers. Unused funds in your
Paypal account can
even earn money through
a Money Market Fund. See
site for more info.
Paypal.com was
purchased by ebay in 2002, and it replaced their own online
payment attempt known as Billpoint.
Paypal is the number one online
auction payment method in use today. As a seller, it is definitely
beneficial to use this option in listings, as many buyers expect it and
trust using
Paypal.
Generally, the more payment options you use in auctions the better, and
it's best to make sure the
Paypal
option is prominently featured with one of their many easily downloadable
logos or links.
You can even have the site use WBN (Winning
Buyer Notification) to automatically contact your auction winners
immediately after the auction.
Paypal
has a very simple and easy to navigate site,
with intuitive toolbars and menus for beginners and pros alike.
Definitely one
of our all time favorite auction resources.
Site Features:
if you are tired of waiting days or weeks for a check or money order, you
can get money instantly
sent to your
Paypal
account, then click a button and deposit funds in your
checking account with direct deposit.
Or better yet, instead of waiting for deposited funds to clear, apply for a
Paypal
Check card with the MasterCard symbol. Once you are accepted, you can check
your balances online, and whenever a customer makes a payment to you
through
Paypal, you can withdraw these funds through any machine that
accepts your ATM card.
We humbly feel, that this is one of the most powerful features with
Paypal.
Imagine the feeling when you list an item for sale some night, you go out for a few hours, and while you are gone, someone
buys your
item with 'Buy it Now'.
Great feeling right? Well, imagine the person then pays you
immediately
through
Paypal. You can now immediately use your
check card to pay for
auctions you've won, pay ebay or other fees, shop online, or go out and do
some shopping in the real world. Even go to an ATM and pull out the cash!
Daily spending limits do apply, based on time as a registered user,
account type, etc.
See
the PayPal site for more details.
We've seen the above scenario many times. The paypal ATM adds a
whole new level of efficiency and speed to online auction payments.
What's more you can even earn a cash back bonus when using
your check card for purchases. Excellent!
Paypal saves users time:
One of the best new features to
Paypal is incredibly efficient. They
have a free, automatic bidder notification system which is an optional
resource for users.
The way it works is, you set up a custom
message to your customers, with instructions on making a payment, through
Paypal, mail or any method you prefer.
Paypal will automatically track all
of your auctions, and will then e-mail the high bidder at auction close
with your payment message.
No more lost or bounced checks, no more excuses. For more about
these feature:
Read PAYPAL FAQs
Visit Paypal.com
