stonecold613
|
posted on May 16, 2003 08:44:53 AM new
Here is a old idea with a new twist. It appears that ebay is going the way of Bidbay, auctiondiner, bidway or whatever they call themselves now days.
They are coming out with a program that allows bidders to pay sellers with points. I just hope it don't go the same way as bidway's system where the points are worthless to sellers and have no cash value. After reading about it, they do imply that the points are as good as cash, but nothing comes right out and says that you can withdraw them for cash.
Any opionions.
http://anythingpoints.ebay.com/faq/index.html#g1
|
baylor45
|
posted on May 16, 2003 09:14:19 AM new
According to Ebay site:
******************************
How do I spend my Anything Points?
Use your Anything Points through your PayPal account to pay for items purchased on eBay.
When you spend your Anything Points, the seller will receive regular funds as with any other PayPal payment. So it makes no difference to the seller if you pay with points or with money.
*******************************
Since my grocery store does not accept Anything points, I'm glad we will continue to be paid in cash.
|
reamond
|
posted on May 16, 2003 09:16:04 AM new
There is a way to quickly turn the points into cash- do sham sales either with friends or through a second account.
Paypal pays the seller in cash, even though the buyer uses points.
It sounds ripe for abuse to me !!
|
auctionace
|
posted on May 16, 2003 09:17:01 AM new
The program reminds me a little of the old redemption stamps from the 1960's. Names like S&H Green Stamps or Blue Chip Stamps. Those were used to enhance the reason for buying at a particular place. Those stamps also had to have some kind of a redemption value by Federal law ( 1/1000th of a cent ).
I'm still pro-PayPal so anything that will get more buyers to use PP is a good thing to me. I feel sorry for the sellers that hate PP because this and other marketing tactics should increase the percentage of PP buyers.
|
auctionace
|
posted on May 16, 2003 09:49:20 AM new
There is a way to quickly turn the points into cash- do sham sales either with friends or through a second account.
It's a penny a point so maybe it's not worth the trouble if ebay gets stingy with the point awards.
|
horsey88
|
posted on May 16, 2003 01:45:12 PM new
I didn't read the fine print...But my guess is that Paypal is reserving the right to claw back your $$$$ for up to 180 days after sale completion if said points were deemed to be fraudlently accquired by the buyer.
I think I'll pass on this one.
|
capotasto
|
posted on May 16, 2003 03:58:46 PM new
horsey -- "But my guess is that Paypal is reserving the right to claw back your $$$$ for up to 180 days after sale completion if said points were deemed to be fraudlently accquired by the buyer."
Either you are full of horseypuckey or you are psychic, knowing what it says without reading the fine print.
Where do you get that idea?
|
pointy
|
posted on May 16, 2003 04:18:28 PM new
There is a way to quickly turn the points into cash- do sham sales either with friends or through a second account.
Paypal pays the seller in cash, even though the buyer uses points.
It sounds ripe for abuse to me !!
.
.
.
Probably I'm missing something, but how is this abuse. The Ebaypoints don't fall from the sky. They have to be acquired, like a frequent flier mile. As I've read it, you can exchange your frequent flier miles to Ebay points, at a penny a mile. So I guess if you have 50000 frequent flier miles, you can convert this into 50000 ebay points, which are worth one penny each, or $500. You don't need an accomplice or a sham sale...you could go ahead and buy a cashable item from a real seller, like an ounce of gold for around $350. And cash it in quickly at a local coin store. But what's the fraud? I've always heard that frequent flier miles should be fairly valued and do trade at more like 2 cents each, a penny is too cheap. From a quick first impression, I like this new Ebay initiative. Gives people an easy way to cash in these loyalty benefits, even if the rate is too cheap. Instead of getting a free flight, or a free night at a hotel, you can buy something tangible, in fact with Ebay you can buy just about anything. Kudos to whoever came up with this idea.
|
nanntique
|
posted on May 17, 2003 01:07:43 AM new
I just looked over the 'program', and while I know it is a little late at night (or early morning) for my mental facilities to be at full strength, but I am confused.
Just what is the bit about the $19.95 fee, for which you get 1350 point??
I've got a bunch of HH points (if they are still good), as well as over 1,000,000 AA miles that would be sweet to do something with.
---------------------------------------------
Invest in the Future, by saving some of the Past!
|
horsey88
|
posted on May 17, 2003 06:15:28 AM new
If 100 points are worth 1 cent. It means you will be getting 13 1/2 cents for $19.95. WOW what a deal
|
pointy
|
posted on May 17, 2003 09:24:08 AM new
There's a little confusion here, not surprisingly, this program, while I think it's a good idea, is poorly explained. Ebay really should hire some writers.
.
.
.100 points is not worth one penny. One point is worth one penny. So 1350 Ebay points are worth $13.50. The switch of HH points or frequent flier points into Ebay points varies with each company. 100 HH points are apparantly worth 1 Ebay point. 1 AA point is apparantly worth 1 Ebay point. So your 1,000,000 AA points I believe are worth $10,000.
.
..
--------------------------------------------.
.
..As time marches on, and the dollar falls in value, and the world economy crumbles, and Ebay keeps growing, eventually the only currency left will be Ebay points.
[ edited by pointy on May 17, 2003 09:25 AM ]
|
stonecold613
|
posted on May 18, 2003 11:31:49 AM new
What I have read on the system is that sellers will be able to accept them without doing anything special. It does not say that they are going to be exchanged for cash.
|
auctionace
|
posted on May 18, 2003 01:37:18 PM new
The seller does have to be signed up for paypal and also be signed up for the PP Points program as well. It's free.
|
jrome
|
posted on May 18, 2003 03:40:26 PM new
eBay is just giving another way to spend FF miles-- nothing new or innovative here, it just makes it realy easy to value it.
As for the $19.95 being worth 13.5 cents, you may want to check your math. $19.95 gets you 1350 points. To calculate the value, divide 1350 by 100, to get the value in dollars. 1350/100=$13.50.
Please don't be so quick to attack the value of a program when you have no concept of it's value. It's distracting, inflammatory, and ultimately useless.
|
pointy
|
posted on May 19, 2003 03:49:44 AM new
The seller does have to be signed up for paypal and also be signed up for the PP Points program as well. It's free..
.
.
.
A little more confusion. Please read the rules, maybe 2 or 3 times, especially if you're going to post (mis)information. A seller DOES NOT have to sign up for the points program. A seller just has to have a regular PayPal account and accept auction payments through Paypal. If you receive a payment that has been funded by anything points, you won't even know it. It will be cash to you.
|
auctionace
|
posted on May 19, 2003 09:16:21 AM new
There is a link to the eBay Anything Points TOS that you have to sign up for. Why would ebay have not make enrolling mandatory for signing up for the eBay Anything Points to particapate?
http://anythingpoints.ebay.com/
|
pointy
|
posted on May 19, 2003 11:41:18 AM new
READ THE RULES
.
.
.
THe buyer has to sign up. The seller does not.
|
stonecold613
|
posted on May 19, 2003 12:33:53 PM new
I contacted ebay and they didn't come right out and say sellers will receive cash, but the statement does imply that.
From Ebay Anything Support.
"As a seller, this program benefits you because it will bring many new
buyers to eBay, all of whom will now have expanded purchasing power to
use with eBay sellers! All you need to do to participate is accept
PayPal as a payment method. You will simply receive a regular PayPal
payment in your designated currency whenever points are used, so this
program will not impact the way you are accustomed to receiving
payments."
I guess it is a time will tell thing. If it is true, then as a seller, I welcome it. More money in my pocket.
|
auctionace
|
posted on May 19, 2003 04:35:48 PM new
Getting Anything Points is easy - simply enroll in the program and earn points from our partners. Points will be stored in your PayPal account and can be used anywhere on eBay where PayPal is accepted!
That's pretty vague as to buyers or sellers.
|
sun818
|
posted on May 19, 2003 05:20:36 PM new
I guess we'll have to see the program in action. But my understanding from I'm reading here and after reading eBay's cryptic explanation is that the buyer can fund their payment from different sources... one of which can be from anything points like american airlines. So, if your total is $100.00, you could use some american airlines miles as payment, and some paypal to make the total.
To the seller, this is transparent as the accepting of payment is handled by Paypal. So, the seller only sees payment - not the details of the payment types.
|
jrome
|
posted on May 20, 2003 11:15:01 AM new
Hmmm, reading the FAQ eBay provides answers many of these questions. For example, to accept Anything Points, all a seller needs is a PayPal account.
The crappy part of it is this, seemingly innocuous requirement. If you have an inactive account, they'll charge you $12 a year, until your account is empty,
" Is there any requirement for me to actively use my Anything Points account?
Yes, the minimum activity requirement is that you complete a minimum of one of the following actions during any given 12 month period: spend Anything Points, earn Anything Points, or exchange between Anything Points and partner points/miles.
If you fail to complete at least one of the above actions for over 12 months, then a fee of 100 Anything Points (a $1.00 value) will be assessed each month thereafter until you use your account again."
So there is absolutely, positively, NO good reason to exchange miles for points until you plan on spending them. Seems like a lousy deal, anyway. 25,000 miles will buy a x-country RT ticket which normally costs $400+ (unless you look real hard). Maybe a good idea for people who travel on business frequently but rarely take long trips, or for those who would never spend more than $200 on a ticket.
|
kasue
|
posted on May 20, 2003 12:23:28 PM new
I don't want them encouraged to use PayPal. I still haven't renewed my contract with PayPal. I have about 30 more days to sign. I have quit telling people they can use PayPal to pay. If they ask, I let them. I am scared off Paypal after reading about chargebacks people have done. If they had a time limit on chargebacks, I wouldn't worry. Apparently they don't.
|
sun818
|
posted on May 20, 2003 01:46:48 PM new
There's always a risk. If you feel uncomfortable with that risk, perhaps you shouldn't take Paypal. But it is an acceptable risk to me and figure in the cost of chargebacks as part of my expenses. Its not a matter of if... but when. And my hope is one's business is profitable enough to handle that.
|
auctionace
|
posted on May 20, 2003 01:52:28 PM new
Here's a new Motley Fool article on the topic
http://www.fool.com/News/mft/2003/mft03052003.htm
|
uaru
|
posted on May 20, 2003 03:13:40 PM new
auctionace Here's a new Motley Fool article on the topic
I like Motley Fool's evaluation of the program, mainly because I view it the same way.
This really seems like a win-win-win program. Better for the buyers, the sellers, and the companies that partner with eBay. It may not bring significantly more revenue in the early going, but anything that attracts and keeps customers and gives them flexible ways to participate will pay off in the long run.
|
auctionace
|
posted on May 20, 2003 03:35:06 PM new
I agree with them too. Anything is better than not trying. Failures are merely teaching aids. Ebay is a huge entity because it is innovative and tries new stuff.
There must be millions of dollars in free air miles floating around looking for an outlet.
[ edited by auctionace on May 20, 2003 03:38 PM ]
|
davebraun
|
posted on May 20, 2003 10:21:08 PM new
From the sellers perspective it looks like they trade their points for cash equivilent. To me it will be the same money in the bank. I hope they spend lots with me.
|
Libra63
|
posted on May 20, 2003 10:37:05 PM new
One more thing. How do I find out how many anything points I have. Is there a place where they will post them? Sorry this is the first I have heard of them so I will have to go and read. ick...I am to old to learn new tricks.
|
auctionace
|
posted on May 20, 2003 11:05:40 PM new
I signed up for the program. In my PP acount on the lefthand side when I log in there's a WHAT's NEW section and a clickable eBay Anything Points Balance link.
|
reamond
|
posted on May 21, 2003 08:47:53 AM new
With the finanacial problems that the airlines are having, I would cash in every mile on eBay on a friends auction "items" and then you can convert what may end up as worthless miles from a bankrupt airline into cash.
|
