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Old 09-24-2009, 09:39 AM   #1 (permalink)
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Default Bill Me Later Option Comes to eBay

Bill Me Later Option Comes to eBay

eBay and Paypal are preparing to test launch Bill Me Later, a payment option that allows buyers to get their items now and pay later--without a credit card.

eBay and its Paypal online payment service will soon be rolling out a new option for buyers and sellers.

Bill Me Later, a service purchased last fall for $820 million, will offer yet another payment option for those who buy and sell sports cards and memorabilia--and just about anything else--on eBay.

Qualified buyers with a Paypal account in good standing and some of eBay's most reliable sellers will be among the first to test drive the new service. Sellers who qualify to offer the Bill Me Later option in their listings will still be paid by Paypal just as quickly as with any other transaction, but the buyer will have additional time before the funds are taken from their account.

Sellers included in the launch will be notified via an email from PayPal. Buyers in the initial launch will see Bill Me Later as a payment option in eBay checkout on items from those sellers.

eBay expects to offer buyers special introductory incentives for Bill Me Later such as $25 off and no payments for 90 days. The offers will be funded by Bill Me Later and credited directly to the buyer’s Bill Me Later account.

Deferred billing, a hit for many large retail stores, is typically offered through a credit card, but the eBay/Paypal version does not require the buyer to use one.

A specific launch date has not been set, but eBay indicated Wednesday that it would be rolled out "in the coming weeks". Once the trial phase ends, it's likely the program will be expanded to a larger base of eBay/Paypal users.

September 2009


Article from Sports Collectors Daily#@-#@Sports Collectors Daily
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Old 09-24-2009, 09:41 AM   #2 (permalink)
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Somehow I see this as a really really bad option!
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Old 09-24-2009, 09:55 AM   #3 (permalink)
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Bad for Ebay and Paypal perhaps. Sounds like a good thing for sellers.
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Old 09-24-2009, 09:56 AM   #4 (permalink)
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Let me get this straight. eBay, in its infinite wisdom, decided to extend credit to buyers during a time when our economy is in the tank, to certain extent, because of buyers who overextended themselves in an effort to live well outside of their means (this is not an invitation for political rants). I can't wait to see the seller assurances when an item is sold to a non-paying buyer who didn't secure his/her account with a CC.

The next step to pi-- us off is easy to see on the horizon - sellers who provide a 'Bill Me Later' option will have their listings bumped to the front of the pack, similar to those who currently provide a 'Free Shipping' option.
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Old 09-24-2009, 09:58 AM   #5 (permalink)
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Bad for Ebay and Paypal perhaps. Sounds like a good thing for sellers.
When is the last time eBay put a policy in place that benefited the sellers? Their rhetoric aside, if eBay has to choose between screwing a seller and taking the money out of their own pocket, I have a feeling it's the seller who will be left holding the bag.
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Old 09-24-2009, 10:04 AM   #6 (permalink)
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When is the last time eBay put a policy in place that benefited the sellers? Their rhetoric aside, if eBay has to choose between screwing a seller and taking the money out of their own pocket, I have a feeling it's the seller who will be left holding the bag.
I doubt that will be the case this time or a huge class action law suit would probably follow shortly. Ebay/Paypal can't start something new like this, pay the sellers ahead of time, and then rip the money away from them because the buyers decided not to pay. Not legally anyway.
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Old 09-24-2009, 10:12 AM   #7 (permalink)
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endthecurse...at least ebay is a private corporation. This could have some benefits, especially with the holidays coming (my guess being a great way to try and test the market with this). Problem is if its not any type of secured payment, how exactly are the sellers going to get their money if a buyer defaults? Ebay isnt going to front it, they're going to expect the sellers to "take payments" in order to sell more product (while charging full fees upfront I would expect). Humm..I wonder if this would mean multiple paypal fees too since payments would be split into multiple ones

How much worse it is that the federal government did the "cash for clunkers" convinving tens of thousands of americans to get more debt by trading in their older car for a more efficent one (that while your mileage now increases, you actually drive more because you now have a newer more reliable car, and I'm more than willing to be their car insurance went up too). I'm still bent that we lent them billions of dollars, then supplemented them with the CFC program. Its not like we're going to ever be giving any money back from the interest on their loans. Americans in general are already up to their necks in debt. I think this may just add another few inches to that water level.
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Old 09-24-2009, 10:17 AM   #8 (permalink)
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Might actually be a good thing, as I could see it helping to move some higher-priced items.
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Old 09-24-2009, 10:18 AM   #9 (permalink)
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Default I'm admittedly smalltime but...

One of the reasons I use eBay is to get that quick sale and the Paypal payment quickly and purchase something for myself. As long as it's not something ebay/Paypal mandates from a seller I just won't offer it.

I think I'm already spoiled if someone doesn't pay me in the first few days of their purchase I start wondering.

Another thought: I'm also thinking that any qualified buyer probably has the funds anyway so why wait with Bill Me Later? It's the qualified buyers who are stretched out that scare me.

Best to All,
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Old 09-24-2009, 10:25 AM   #10 (permalink)
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endthecurse...at least ebay is a private corporation. This could have some benefits, especially with the holidays coming (my guess being a great way to try and test the market with this). Problem is if its not any type of secured payment, how exactly are the sellers going to get their money if a buyer defaults? Ebay isnt going to front it, they're going to expect the sellers to "take payments" in order to sell more product (while charging full fees upfront I would expect). Humm..I wonder if this would mean multiple paypal fees too since payments would be split into multiple ones

How much worse it is that the federal government did the "cash for clunkers" convinving tens of thousands of americans to get more debt by trading in their older car for a more efficent one (that while your mileage now increases, you actually drive more because you now have a newer more reliable car, and I'm more than willing to be their car insurance went up too). I'm still bent that we lent them billions of dollars, then supplemented them with the CFC program. Its not like we're going to ever be giving any money back from the interest on their loans. Americans in general are already up to their necks in debt. I think this may just add another few inches to that water level.
The red-highlighted text is exactly why I'm looking forward to seeing the 'seller assurance' language from fleaBay. Of course, if sellers are 100% guaranteed to get their payment within 7 days of the auction close, regardless of the buyer's ability to actually pay, I'm in. I just don't see that being the case, though.
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Old 09-24-2009, 10:27 AM   #11 (permalink)
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This will be a line of credit with ebay, like a credit card. They will pull a credit report on you and figure out if you qualify or not.
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Old 09-24-2009, 10:32 AM   #12 (permalink)
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If, as a seller, I get payment for an item won from a non-paying buyer AND the funds can never be withdrawn from my account - It's a huge positive.

If it is like a credit line, like guru states, that's great for sellers. It will be a very convenient credit card and users will have to pay or suffer the consequences, the same as not paying you AMEX.
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Old 09-24-2009, 10:41 AM   #13 (permalink)
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This could be huge for guys who buy and flip high end singles and lots. Usually anything new implemented by fleabay is a disaster waiting to happen but this one looks good on paper.

Only negative I can think of without seeing all the details in front of me is a ridiculously high interest rate for this line of credit they are offering.
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Old 09-24-2009, 10:50 AM   #14 (permalink)
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Another thought: I'm also thinking that any qualified buyer probably has the funds anyway so why wait with Bill Me Later? It's the qualified buyers who are stretched out that scare me.
Gives you the abillity to try and rip n flip with money that isn't yours. If I have 90 days, I can buy a couple cases, rip them open, sell the cards, and (if I picked the right product) pay my cases off and keep the profit.
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Old 09-24-2009, 10:59 AM   #15 (permalink)
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Gives you the abillity to try and rip n flip with money that isn't yours. If I have 90 days, I can buy a couple cases, rip them open, sell the cards, and (if I picked the right product) pay my cases off and keep the profit.
That won't happen too often.

You will be paying interest on this money too.
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Old 09-24-2009, 11:02 AM   #16 (permalink)
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I was hoping that this was going to be like the BML option that Bose offers. 12 months no interest, etc. This could still be a great option for sellers so long as there is enough protection built into the program. But knowing the way ebay operates, thats not likely to happen.
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Old 09-24-2009, 11:06 AM   #17 (permalink)
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Sellers who qualify to offer the Bill Me Later option in their listings will still be paid by Paypal just as quickly as with any other transaction, but the buyer will have additional time before the funds are taken from their account.

This is great IF there is no way ebay/paypal can come back to the seller if the buyer doesn't follow through. I highly doubt this is the case but I'll dream for now.
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Old 09-24-2009, 11:09 AM   #18 (permalink)
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I was hoping that this was going to be like the BML option that Bose offers. 12 months no interest, etc. This could still be a great option for sellers so long as there is enough protection built into the program. But knowing the way ebay operates, thats not likely to happen.
Don't hold your breath! If they do anything it might be a 30-60 day interest free promotional offer that will quickly end.
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Old 09-24-2009, 11:13 AM   #19 (permalink)
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Don't hold your breath! If they do anything it might be a 30-60 day interest free promotional offer that will quickly end.
Too bad. I had visions of a 60" flat screen and blue-ray player dancing in my head Anyone know of any electronics stores that do the Bose style BML w/ no credit check?
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Old 09-24-2009, 12:05 PM   #20 (permalink)
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I really do not know what to think with this.
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Old 09-24-2009, 12:31 PM   #21 (permalink)
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Bad for Ebay and Paypal perhaps. Sounds like a good thing for sellers.
I've used it on Amazon for years. It's basically just a virtual credit card and I don't recommend it as you pay interest on the money you spend.
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Old 09-24-2009, 12:41 PM   #22 (permalink)
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eBay actually owns (or owns part of) BillMeLater, so this is no surprise
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Old 09-24-2009, 12:53 PM   #23 (permalink)
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Maybe this will make ending prices go up if people know they have a little extra to spend and then pay with interest later.
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Old 09-24-2009, 01:43 PM   #24 (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.
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Old 09-24-2009, 01:52 PM   #25 (permalink)
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Default I guess the big question...

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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.
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,
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