BidPay, a subsidiary of First Data Corp., is allowing online auction site sellers in the U.S. to receive payments using a new direct-to-bank payment option. Sellers can register for the new option and have auction payments sent to their U.S. checking account in approximately three banking business days. Buyers can use their credit or debit card to pay for their online auctions.

BidPay is commonly used by eBay buyers to purchase money orders online, which BidPay then mails to the seller. Because the seller gets an email from Western Union telling them the money order has been mailed, they will often send the item out sooner, rather than waiting for the check to arrive in the mail.

The direct-to-bank option can also decrease the time buyers wait for their product, as well as the time sellers generally wait to receive payment. Buyers and sellers are notified via email when the transaction is processed and approved. In addition, sellers have access to account information and viewable order information.

"As online auction sites continue to increase in popularity, consumers are looking for quick and easy ways to make their purchases," said David Hansen, vice president, strategy and global expansion, BidPay. "By providing U.S. sellers with the direct-to-bank option, we are increasing the speed of BidPay transactions and offering additional convenience to the seller."

BidPay's direct-to-bank option, like its standard money-order payment option, is free to the seller (except for possible third party fees and UK Pound Sterling fee). The buyer pays a minimal service fee starting at $1.95 per transaction.

http://www.bidpay.com