More information on ProPay participation at eBay auction

Further details of its electronic merchant services for eBay sellers were recently discovered by ProPay, a comprehensive provider of simple, safe and affordable merchant payment solutions. As it is known starting at the end of October 2008 eBay is absolutely eliminating paper-based payments for its merchants leaving only three electronic options - credit cards, ProPay and PayPal.

EBay explained the shift to e-payments only policy as their effort to protect both sellers and buyers. The auction notes that items paid for with check or money order are 80 percent more likely to result in an item not received (INR) than those paid with credit card. Also, buyers who pay with check or money order are 50 percent more likely to leave negative feedback than those who pay with electronic methods.

ProPay revealed the services and products it is going to offer to eBay merchants. eBay Silver power sellers and higher will be provided with ProPay eAuction Account 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. 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, will be offered eAuction Pro Account. 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. Besides, sellers will be provided with ProPay's secure card reader to remotely "swipe" and process credit cards safely.