- BidPay
] BidPay had over 4 million registered users worldwide.
BidPay was a popular payment method for auction sellers based in
North America because there was nochargeback or reversal risk, as there was with competing servicePayPal . The buyer was responsible for all fees, and US sellers had the option of receiving an ACH payment direct into their bank account. However, when a buyer successfully made a charge back, BidPay ended up taking the loss.BidPay was relaunched in June 2006 based on an operating model similar to that of a
merchant account for auction sales. Sellers were now responsible for all fees, and had to have a US-based bank account that accepted ACH payments, since money orders were no longer issued. Before approving payment, Bidpay reviewed payments submitted via various fraud checks. Also sellers now had to ship by a track and trace shipper and Bidpay would assume the risk of chargebacks if the seller followed all the requirements under the user agreement.BidPay.com, Inc. again discontinued operations on December 31, 2007. [ [http://www.cybersource.com/news_and_events/view.xml?page_id=1656 CyberSource's BidPay Subsidiary to Cease Operations] ]
See also
CyberSource References
External links
* [http://www.cybersource.com CyberSource Corp.]
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