posted on June 27, 2004 04:47:23 AM new
Has anyone used this? I've looked at the description written by Ebay/Paypal and it says that the seller gets paid right away even though the customer pays PAYPAL in installments. It also says that the option is available to the seller at an additional fee, but (at least in the description I read) it doesn't tell you what the fee is to the seller.
Also, based on PAYPAL's wonderful reputation, I'm wondering what happens if the buyer defaults and doesn't finish paying paypal the full purchase price. Will PAYPAL deduct the money from our account?
if buyer opts to use credit plan; they must be approved by paypal, and/or GE Capital Credit Card Co[brochure says 30sec] ....then paypal pays you immediately; and buyer pays GE just like they would any other credit card.
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in reading the paypal brochure, it infers that the seller must apply for the deferred interest program...but on the credit plan, the seller must formally "opt out" of the plan...otherwise, the credit logo, etc. appears on your auction automatically...
ex:
with approval, make only 24 payments at $78 each-this appears on the auction...that is the example i have seen..
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now if we get our monies immediately, with no factored liability[which there shouldnt be], then we as sellers will be automatically charged up to 3.75% fee on the auction sale, PLUS the normal paypal fees...
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ANNNNNNNNNNND, before the question is asked: what about those sellers who dont offer paypal,etc.,,,i wonder because, the seller will then have to opt out of any programs??
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myoldtoy
[ edited by myoldtoy on Jun 28, 2004 08:31 AM ]
posted on June 28, 2004 08:42:10 AM new
i just got this from paypal:
"As long as you accept Paypal on your eBay listings, Paypal Buyer Credit is automatically promoted on any item you list with a BIN price over $199.99, USD, or for every closed auction where bids exceed $199.99"
[and the paypal fees are additional to the fees charged for Buyer Credit.]
