Overstock Auctions is testing a checkout system on its site called O-Auctions Checkout payment service, according to an announcement on its boards. "In order to offer an online payment system, Overstock.com Auctions is integrating with www.auctioncheckout.com to provide this service." Overstock Auctions will test the new checkout system for 30 days using 50 sellers for testing.
According to Overstock Auctions' FAQ page, "O-Auctions Checkout allows sellers to accept credit cards for all their auction sales at low rates. There is no registration process or account creation necessary for buyers. When the auction is over, winning bidders simply click on a pay now button to complete the payment process in seconds. Funds are automatically deposited into the seller's checking account with 2-3 days. O-Auctions Checkout can also offer sellers protection against chargebacks."
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