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Old 09-24-2009, 01:56 PM   #26 (permalink)
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Quote:
Originally Posted by guru View Post
That won't happen too often.

You will be paying interest on this money too.
I'm not going to use it -- just a thought on how it could be used.
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Old 09-24-2009, 02:00 PM   #27 (permalink)
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Will the seller be paid right away by the BML service and be done with all possibilities of non payment and such? Will BML make their money on their side as the credit company? (fees, interest, etc)

Just wondering,
Vinny
I am sure the seller will be paid right away. If the customer doesn't pay thier line of credit, like a credit card, collection actions will be taken on the part of ebay.

And for those of you wondering, I am sure ebay will not be self-funding this. I am sure it will be backed by GM money bank or someone like that. Ebay will have no credit decision power at all.
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Old 09-24-2009, 02:02 PM   #28 (permalink)
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This is awesome! As a seller I think my sales will go up big time because of this. As long as I get my money right away, I don't mind.
Agreed, as long as I get paid right away let Ebay, paypal and Bill me Later worry about the deadbeats that buy on credit and don't expect to pay it back. It will be interesting to see how it all plays out.
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Old 09-24-2009, 02:36 PM   #29 (permalink)
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I am assuming that the buyer or seller will have to fill out a credit application correct? Ebay can't just pull credit without consent can they?
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Old 09-24-2009, 02:42 PM   #30 (permalink)
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No they can't pull credit without consent. I'm sure they will use something like the ID verify option for sellers where your credit is checked (for $5 thru equifax) to verify it is you selling on the ebay acct... I guess from that point, you get your max "pay it later" amount.
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