Power Sellers Unite

strancali · Joined: 26 Dec 2005 Posts: 17

First off, i would like to say hi to everyone here at PSU. I've been a reader and now decided to post :). I would like your honest opinions on whether you would use a payment processor that deals directly with methods other than credit cards? If the system was backed by cash or similar where there could be no charge backs, would any of you give it a shot? I know credit cards play an important role for the online community but if there was a system similar to paycash.us and without the need to download any software, would you guys give it a try? We are in the process of forming this system and would appreciate any feedback/sugessions etc.

Thanks again,

Sid

Dooley · Joined: 29 Jul 2005 Posts: 53

strancali wrote (View Post): › docWrite("quote")
First off, i would like to say hi to everyone here at PSU. I've been a reader and now decided to post :). I would like your honest opinions on whether you would use a payment processor that deals directly with methods other than credit cards? If the system was backed by cash or similar where there could be no charge backs, would any of you give it a shot? I know credit cards play an important role for the online community but if there was a system similar to paycash.us and without the need to download any software, would you guys give it a try? We are in the process of forming this system and would appreciate any feedback/sugessions etc.

Thanks again,

Sid

Hello Sid;
Welcome to PSU.

As far as I am concerned I would be interested in almost anything which would not involve dealing with PP.

The problem with using any type of system which offers no protection for the buyer/seller want fly when dealing with online purchases. As they are so many ripoffs from both ends, there has almost got to be some type of checks and balances.

Another problem IMO is the method in which the buyer would fund a cash type payment to a seller. This would almost involve a Credit Card, now we are back to charge backs, or the buyer giving access to their Checking Account and I can't see that happening.

Just my thoughts.

Dooley

lotsofgoodstuff · Joined: 02 Jun 2005 Posts: 282 Location: CA

..If the system was backed by cash or similar where there could be no charge backs ..

What is "similar to cash"? It's either cash, a check, a money order or CC. So what is it?

And no, I would not use it. I had to do a few chargebacks for non-shippers, how would I get my money back?

strancali · Joined: 26 Dec 2005 Posts: 17

Hi Dooley, lotsofgoodstuff

Happy new years guys. Thanks your opinions. I guess the cash-backed term is sort of incorrect. We will be allowing funding via cash/mo/checks/ach etc but no credit cards due to the 6 months charge back policy. We will have some sort of escrow like service where the buyers and sellers will be covered incase of attempted fraud. I've seen a lot of unfair practices towards merchants where the buyer would do a bogus chargeback because they can abuse the credit system. Thats the reason why PayPal has to freeze and chargeback people because the issuing card company will do a chargeback to PayPal. This is also the reason why many smaller processors go out of business. Our payment service will allow people to do business in a safe and secured enviroment. We will allow adult payment also. I will have more details in the coming months once we are ready to launch. We want to do this business since 6 months back but did not want to gamble with people's money/business. This is the reason why we delayed it until now and decided that the credit card system will not work for the smaller guys. Have a great and safe New Year everyone. 2006 will be better for all of us.

Sid