eBay sellers of all sizes will be able to offer Paymate as a payment option to their buyers beginning today, as long as they meet a minimum feedback requirement.
The payment service, which has been an integrated payment option on eBay since February, used to require eBay merchants sell a minimum of $36,000 a year to offer it as a payment option. Now the only requirement sellers must fulfill is a minimum of 10 feedback points and at least 98 percent positive feedback overall.
"People have been asking us to help them by offering a payment service that caters to the smaller eBay seller," says Garrett Gafke, Paymate's CEO and director. "In fact, we have been swamped with phone calls and e-mails over the past several months."
He notes that other payment providers have focused on Gold and Platinum PowerSellers, placing "restrictions on the small seller, and forcing reserves" on them.
"We believe that, not only is there a significant business opportunity in this space, but we believe that if we help these small sellers now that they will become long-term customers as their business grows on eBay," Gafke continues.
Registering for a Paymate account takes about three minutes, according to Paymate's Web site, and the company has automated the approval process.
"No more waiting for bank approval! Once approved, you can start accepting payments right away," Paymate tells readers in an e-mail.
To learn more about accepting payments using Paymate, please click here.
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Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.