eBay will integrate the PayMate online-payment service into its checkout system on February 26, 2009. Australia-based PayMate will be one of three outside services allowed on eBay.com after the marketplace initiated an online-only payments policy last October. ProPay is already integrated onto eBay.com (only PowerSellers may offer ProPay at this time), and Moneybookers will launch on eBay this month.

Buyers on eBay do not have to register with PayMate when paying for a transaction. PayMate charges eBay sellers who sign up for the service 3 percent plus 50 cents per transaction with no monthly or annual fee. There are no fees to withdraw funds into a bank account.

Managing Director Dilip Rao said PayMate worked with eBay Australia as far back as 2001, before eBay acquired PayPal. He said PayMate is not a stored-value system like PayPal. Rao said PayMate makes direct payment into seller's bank account in 1 day, and a fraud management service is integrated into the service to reduce seller losses - he said there is a loss rate of 0.1%, meaning a loss of 10 cents in every $100.

Moneybookers has announced its rates for its eBay.com service, although it has not said when in February the service would launch on eBay.

Link to PayMate