Changes to eBay Payment Methods – ProPay

eBay has previously announced changes to the acceptable methods of payment for sales made on their site.

Paper payments end this October

Beginning late October 2008, all items listed on eBay.com must be paid for using one of the following approved payment options:

• Direct credit or debit card payment via a merchant credit card account
• PayPal
• ProPay
• Payment on pick-up

Until recently, there was not much information on ProPay.  It looks like it will only work for PowerSellers, at least in the beginning stages.

eAuction Account
With today’s announcement, ProPay has unveiled the ProPay eAuction Account for eBay Silver power sellers and higher. It will be available from ProPay in late October. It will have a $24 annual fee ($2 per month, billed annually at sign up), with a $24 rebate processing credit offered to sellers who process $3,000 or more with ProPay during their first 6 months after signing up. The transaction fees will be very similar to competitors’ virtual terminal transaction fees.

ProPay is fully integrated into eBay checkout. Buyers do not provide their banking information or log into or sign up for ProPay accounts. Buyers simply enter their credit or debit card information, making their checkout quicker and easier. And many buyers prefer paying with credit cards because of the convenience, broader protection and rewards.

In early 2009, the eAuction account is expected to be available for Bronze power sellers.

There will also be an option for those who wish to set up what will in effect be a merchant account to accept credit cards.

eAuction Pro Account
Late this year, ProPay will unveil the eAuction Pro Account for eBay Silver power sellers and higher who sell on eBay and need additional, specialized services for processing credit and debit cards in face-to-face and other situations. This account will add processing options such as ProPay’s:

• online virtual terminal
• touch-tone phone processing
• e-mail invoice
• direct API integration
• secure card reader

The annual fee for this account will be $240 ($20 per month, billed annually upfront at sign up). The transaction fees will be identical to the eAuction account and very similar to competitors’ virtual terminal transaction fees.

Not for the casual seller, but it may be what some of the bigger sellerscan use to branch out into e-commerce on there own websites or maybe even at Trade-O-Rees.

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US physicist (1933 – )