ProPay Announces Alternative for eBay Sellers
Specializes in Providing the Industry’s Most Comprehensive Suite of Services for Advanced Sellers
Orem, Utah-October 7, 2008-ProPay, a comprehensive provider of simple, safe and affordable merchant payment solutions, today announced further details of its electronic merchant services for eBay sellers. As was recently announced by eBay, starting in late October 2008 eBay is moving to 100% electronic payments - credit cards, ProPay, or PayPal. ProPay’s greatest specialty is in serving the advanced power sellers who accept or who plan to accept credit cards in both eBay and off eBay transactions.
“We are extremely pleased to be the first alternative payment option that eBay has integrated with as a part of their effort to move entirely to paperless transactions,” said Greg Pesci, ProPay Executive Vice President of Business Strategy. “Moving all eBay purchases to an electronic method will help expedite the purchase process, and potentially reduce complaints and negative buyer feedback. ProPay is looking forward to providing alternative merchant services to help improve the buying/selling experience. We welcome the opportunity to support the advanced eBay power sellers, who we anticipate will benefit most from the comprehensive payment solutions we provide.”
According to eBay, 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. eBay hopes to reduce these numbers by integrating more electronic payment offerings in order to make the checkout process faster and more reliable for sellers and buyers.
ProPay Accounts and Pricing
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.
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.
ProPay Card Reader
ProPay’s secure card reader allows sellers to remotely “swipe” and process credit cards safely. The card holder information is immediately encrypted and, with an internet connection, processed real time through ProPay’s virtual terminal. If internet access is not available, the information is stored for later processing, eliminating the need to manually record or key in credit card information.
For more details about these ProPay accounts and fees, please go to www.propay.com.
About ProPay
Since 1997, ProPay has led the market in providing simple, safe and affordable credit card processing and electronic payment services for businesses ranging from the small, home-based entrepreneur to multi-billion-dollar enterprises.
ProPay understands the unique needs of these businesses and has created merchant services specifically for them. With ProPay, merchants can set up an account online and begin accepting credit cards without buying special equipment and making long-term commitments or investments. ProPay leads out in educating merchants of every size about how to reduce or eliminate the risk of touching or holding sensitive cardholder data. The company also leads the payments market in the development of end-to-end data security solutions and alternative payment options that can significantly reduce risk and operating costs.
ProPay is a privately held company, headquartered in Orem, Utah. For information, visit www.propay.com.
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PR Contacts:
Cheryl Snapp Conner or Don Osmond
Snapp Conner PR
801 994-9625
Cheryl (at) snappconner.com or don (at) snappconner.com
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We are really excited about teaming up with eBay. With all of the changes that eBay is making, we hope that we can be a highlight. If I can brag a little, ebay has very stringent standards and we didn’t have to change anything to meet the requirements. If you want to know more about ProPay, check us out at ProPay.com.
Brandon Crotts
Product Manager
ProPay