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WHEN PAYMENT MATTERS

When everything’s settled after the seller has posted a product in eBay, there’s only one thing that needs to be accomplished: payment mode.

When selling something, the most important thing a seller must consider is how he or she shall be paid. This is a very risky decision since a lot of fraudulent activities in eBay involve payment.

PAYPAL

This is the most common way of paying a seller on eBay.

PayPal is an online business that facilitates the transaction of transferring a monetary amount between a merchant account and an online buyer. Because it is electronic, it is basically a paperless transaction.

It was in October 2002 when PayPal was purchased by eBay. Before, PayPal was just a choice of most eBay users, whether it’s a buyer or a seller. The other choices that time involves eBay’s subordinate, BillPoint.

However, due to a relative percentage of PayPal, being the most widely used mode of payment by almost fifty percent of eBay buyers and sellers, eBay had eventually phased out BillPoint and concentrate more on PayPal.

Right now, there is another company that is in the same line of business like PayPal. This competitor is known as BidPay. There had been reports that a number of eBay buyers and sellers resort to this kind of payment scheme.

ESCROW

For high-priced items, eBay recommends that the method of payment should be with an eBay approved escrow service like the one that can be found at www.escrow.com

Buyers and sellers should take note that there are fake escrow companies lurking in eBay. Hence, it’s important to detect if the escrow company that the buyer and the seller deals with is approved by eBay.

EBay recommends that sellers, as well as buyers, should only contact eBay approved escrow companies like escrow.com for Canada, U’.S., and U.K. eBay users; escrowaustralia.com.au for eBay users in Australia; escrow-europia.com for eBay users in Spain and Italy; ebay.iloxx.de for German eBay users; and tripledeal.com for eBay users in France, Netherlands, and Belgium.

EBay strongly warns its buyers and sellers not to do transaction concerning wire transfers like the Western Union. This is a very unsafe mode of payment because it does not guarantee the concerned person that the process will be smooth.

So, it’s best for every seller and buyer on eBay to opt for the mentioned payment methods so as to be sure of an honest and reliable business transaction. Besides, eBay will protect the sellers and buyers if the transactions were made under these approved eBay mode of payment.

About the Author

Jay is the web owner of http://www.the-lowest-prices.com Online Shoppping, a website that provides information and resources on online shopping malls and discounts. You can visit his website at: http://www.citydeals.net Online Deals

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eBay Tips & Tricks

There is lots of money to be made on eBay, as well as lots of great deals for shoppers.

Whether you are a buyer or a seller, there are some things you should be aware of before

you venture out.

Just as the police will warn you about purse snatchers when you are shopping - they say be

aware of your surroundings, know where you are going (or at least look like it!).

Unfortunately, you need to be cautious when shopping online as well, on a number of

levels.

There are a lot of techniques, strategies, and facts that the savvy buyer or seller should

know about, so that they don’t make a mistake that could have anywhere from minor to

severe consequences.

Exciting Facts About eBay * More than 2 MILLION people visit eBay every single day — searching for products to buy! * People spend an average of 2 hours shopping on eBay. * 72% of eBay users make more than $50,000 per year! * eBay currently has over 147 MILLION members, and thousands of new members are added

every single day! * eBay processes over $1,000 in sales every second! That’s $1,000 up to $86,000,000 a day

— every single day of the year! * If you have a retail business, a good way to increase your sales is to advertise some of

your inventory on eBay. * If you know where to buy something in bulk at wholesale price, and then sell it on eBay,

you can make a profit. * People make money selling everything from unwanted items of little monetary value, to

brand new and expensive objects such as satellites, motorcycles, and cars. Needless to say, you can certainly see that on many levels you can benefit by doing

business on eBay.

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