Online payment service BidPay.com has reduced fees for eBay sellers and online merchants and said buyers will be able to submit payment for purchases without the need to create a BidPay account. BidPay lowered its standard domestic pricing to 2.19% of the price of the goods being sold, plus 25 cents per transaction (down from 2.5% + 50 cents/transaction). BidPay also lowered pricing on international orders to 2.9% plus 25 cents per transaction (down from 2.9% + 50 cents/transaction).
BidPay's new pricing make it less expensive than eBay's PayPal payment service except for transactions of over $100,000. PayPal fees vary depending on a seller's monthly volume, from 1.9 - 2.9 percent, and include a 30-cent charge per transaction.
"Sellers and online merchants are hungry for an effective low-cost payment service," said David Hansen, president of BidPay. "This is especially true within the auction market - which is dominated by higher cost payment options that dramatically cut into seller margins. We believe this price reduction gives BidPay a clear price advantage for most sellers and helps us continue our expansion as an alternative payment service."
eBay, which limits which payment services sellers can use, accepts BidPay, though it offers buyer protection only on PayPal-funded transactions.
BidPay said buyers won't have to register to pay merchants. Instead, they will be able launch a transaction from the BidPay homepage simply by entering an order number and auction site.
BidPay is a wholly owned subsidiary of CyberSource Corporation.
http://www.bidpay.com
AuctionBytes Chart of Online Payment Services
http://tinyurl.com/2ob47u
