Alternative Payment Methods On Ebay
Online retailer eBay is a popular site for finding nearly everything imaginable online
. Each eBay seller is different, but most prefer to handle transactions with PayPal. However, there are some payment alternatives that eBay buyers can explore as well. While sellers cant change their payment method for a listing item once the listing has ended, it is important to be knowledgeable about all of the alternative payment methods for eBay.
Online payment makes transactions easier for sellers and buyers, as funds are cleared nearly immediately and items can be shipped quickly thereafter. PayPal is perhaps the most widely recognized payment method on eBay, but there are competing companies that offer similar service.
ProPay, Paymate and Moneybookers are all accepted alternatives on eBay, and the companies offer a very similar structure to that of PayPal. The companies make each transaction traceable, and payments are secure. Moneybookers and Paymate allow buyers to send payments with a credit card or bank account, and ProPay lets sellers accept payments from credit cards without having an Internet merchant account
Unlike PayPal, however, ProPay, Paymate and Moneybookers may hold buyers liable for certain transactions, but your credit card company may have some form of purchase protection up to a certain level.
Also note that ProPay, Paymate and Moneybookers are smaller up and coming companies and some sellers may not accept anything other than PayPal to secure payment for their items.
Another alternative payment method is payment upon pickup. You will have to coordinate pickup with the seller, providing that both parties are within a reasonable distance from each other. A benefit to payment upon pickup is that buyers can physically inspect the items before purchase and there are no shipping fees, but sellers are allowed to include surcharges for in-person pickup. Ebay allows check, money orders, cash, PayPal or credit card as accepted forms of payment for in-person pickups, but again, these methods are available at the sellers discretion.
An escrow service can be another alternative to PayPal. Escrow services act as a middleman between buyers and sellers, handling all transactions and any communication between the parties. Buyers and sellers should be aware that there are some fraudulent companies posing as escrow service providers, so be sure to perform due diligence before signing up with an escrow company and work only with the best-rated firms. Escrow services are recommended when a high-priced item like an automobile or valuable collectors item is up for sale.
For most transactions, eBay does not allow checks, money orders and bank wire transfers to be used as payment. However, in certain instances sellers can offer these payment methods. If a seller has an automobile, real estate, business equipment or item for adults only, an exception is made.
Ebay shoppers can also use a recently added feature called Bill Me Later. While users are still required to have a valid PayPal account to be able to use the Bill Me Later feature, the service allows for delayed payment up to 90 days.
Whichever payment method you choose for eBay, make sure that its done safely and securely. Do business only with sellers with high feedback ratings and who readily answer any questions you may have about the item.
by: Jane M Dawson
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