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razmatazcelebrations
Joined: 26 Feb 2006
Posts: 25
Location: New York
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| Posted: Wed Dec 19, 2007 8:07 pm Post subject: Bidpay Closing |
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Just read on Bidpay
Urgent Notice
Effective December 31, 2007, BidPay.com, Inc. will be discontinuing operations. We regret any inconvenience to our users and thank you for your patronage over the years. Please note the following important details about the shutdown. Please plan accordingly.
· Effective IMMEDIATELY, BidPay will no longer accept new BidPay seller account registrations.
· Effective IMMEDIATELY, banner insertions for new auctions will be disabled. That means that any attempts to add “BidPay” as a payment option in auctions will not be effective. Accordingly, you should offer alternative forms of payment.
· Effective 5:00 P.M. PST, December 25, 2007, BidPay will cease accepting payments, and new buyer account registrations will be disabled.
· From January 1, 2008 through 11:59 P.M. PST, January 31, 2008, registered users will have read-only access to their BidPay account information.
· Customer support services will be available through January 31, 2008 by contacting support@bidbay.com. |
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techsp
Joined: 12 Jun 2007
Posts: 105
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| Posted: Wed Dec 19, 2007 9:16 pm Post subject: |
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| Yes, just received mail with this content for all my BidPay accounts. |
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HonestJoesAuctions
Joined: 28 Nov 2005
Posts: 387
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| Posted: Thu Dec 20, 2007 12:11 am Post subject: BidPay Shutting Down?? |
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From: "BidPay Support" <support>
Effective December 31, 2007, BidPay.com, Inc. will be discontinuing
operations. We regret any inconvenience to our users and thank you for
your patronage over the years. Please note the following important
details about the shutdown. Please plan accordingly.
Effective IMMEDIATELY, BidPay will no longer accept new BidPay account
registrations.
Effective IMMEDIATELY, banner insertions for new auctions will be
disabled. That means that any attempts to add “BidPay” as a payment
option in auctions will not be effective. Accordingly, you should offer
alternative forms of payment.
Effective 5:00 P.M. PST, December 25, 2007, BidPay will cease accepting
payments.
From January 1, 2008 through 11:59 P.M. PST, January 31, 2008,
registered users will have read-only access to their BidPay account
information.
Customer support services will be available through January 31, 2008 by
contacting support@bidpay.com.
Verified it at their site.
http://www.bidpay.com/Default.aspx |
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mojavelyn
Joined: 25 Feb 2005
Posts: 8084
Location: Mojave Desert CA 120 miles from civilization
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| Posted: Thu Dec 20, 2007 12:21 am Post subject: |
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| Not suprising... |
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kygary02
Joined: 18 Feb 2006
Posts: 201
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| Posted: Thu Dec 20, 2007 3:57 am Post subject: Re: BidPay Shutting Down?? |
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| That answers some of my questions. It makes sense now. |
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elgato
Joined: 24 Feb 2005
Posts: 17229
Location: Texas
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| Posted: Thu Dec 20, 2007 11:15 am Post subject: Re: Bidpay Closing |
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Not the first time they've closed the door on it's users.
Related article:
http://www.auctionbytes.com/cab/abn/y07/m12/i20/s02 |
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elgato
Joined: 24 Feb 2005
Posts: 17229
Location: Texas
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| Posted: Thu Dec 20, 2007 3:08 pm Post subject: Re: Bidpay Closing |
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| Merged all related topics into one thread today. |
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AuctionLotwatch
Joined: 04 Sep 2006
Posts: 25
Location: UK
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| Posted: Wed Jan 02, 2008 8:44 pm Post subject: BidPay bids farewell to the online auction payments market |
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BidPay.com Inc., a unit of CyberSource Corp. that processed payments
for online auctions, ceased to operate on Dec. 31.
CyberSource, citing continued financial losses and unsuccessful attempts
to enter agreements for strategic alliances and investments, says its
board decided early last month to discontinue BidPay.com’s operations
and take an expected one-time charge related to the shutdown ranging
from $1.7 million to $2.7 million in the fourth quarter of 2007..... [ Read Article ] |
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cohibastore.com
Joined: 14 Sep 2006
Posts: 4908
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| Posted: Thu Jan 03, 2008 12:48 am Post subject: Re: BidPay bids farewell to the online auction payments mark |
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| Current managers took an OK service and made it worse! |
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The*elite
Joined: 04 Jun 2007
Posts: 189
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| Posted: Fri Jan 04, 2008 4:31 pm Post subject: what in the world happen to bidpay? |
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| How come they keep opening and closing? I liked the MO things back in the day, oops, I guess I've told how long Ive been on the bay :roll: ...Anyways, did they get suspended from ebay too! LOL :D I thought that was sort of funny, well, gotta laugh at my own jokes...can't find the article as to why they closed? what did we do, what did they do, what the 411, speculations welcome, I just wanted an idea...drats, OK deep breath....anybody know? I remember when, dang I forgot the name it was alertpay or greenpay, then it was also stormpay (which) I sort of like...alertpay drove me nuts...just wondering |
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kenzy
Joined: 24 May 2007
Posts: 1326
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| Posted: Sun Jan 06, 2008 9:28 pm Post subject: Re: what in the world happen to bidpay? |
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BidPay and several other Online Payment sites have bit the dust over the years...
Beenz Internet Currency
BidPay by Western Union (formerly Auction Payments)
BidPay by CyberSource Corp (formerly owned by Western Union)
BillPoint / eBay Payments (replaced by PayPal)
BitPass Micropayments
CitiBank's c2it
CacheCard Services
CyberCash (assimilated by PayPal)
DigiCash
eFlow Multi Currency (formerly Energy Flow)
eMoneyMail
EwMerchant Secure Online Payments
ExchangePath
EZCardinc
FastPay U.K.
Fidesic (formerly Checkspace, dropped auction payments)
Flooz E-currency
Mad-Cows Moola!
MoneyMover.com
MoneyZap by Western Union (formerly Achex)
Moola Zoola
MooPay.com
Nash Cash
PayDirect by Yahoo!
PayCaddy.com
Paycom.net
PayPad Person-to-Person Payments
Payso Micropayments
PaySwiss.com (Switzerland site)
PepperCoin Micropayments
Place2pay International (formerly PAYpoint2000)
Qchex Online Check Sending
RocketCash
Starpay.com
StormPay (dropped auction payments)
Tradenable (originally i-Escrow)
Tradesafe
TransactionPay
X.com (assimilated by PayPal)
YowCow
Zoom-Cash.com |
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Gonzo
Joined: 11 May 2007
Posts: 92
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| Posted: Sun Feb 03, 2008 5:23 am Post subject: |
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| Internally I couldn't even guess but on the surface it simply looks like they had a bad business model. You don't tie your entire business into ebay. Sellers who sign up for ebay are not made aware that they can use bidpay as a payment system so why does bidpay tie up their whole business around the use of ebay? You can't just open a bidpay account. It has to be tied directly to an ebay account with a history of feedback and you could only accept payments for things sold on ebay and no where else. Is it any wonder they failed????? The first month I used them they were amazing and everything I could ask for because for whatever reason they were not imposing all these silly rules. After the first month or so that all changed. |
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