Australian online-payment service Paymate appointed Garrett Gafke as its new Chief Executive Officer, succeeding Dilip Rao, who will remain President of the company. Originally founded in Australia in 2000, Paymate's new global headquarters will move to California where Mr. Gafke is also based.

Mr. Rao, who founded Paymate, said "We are delighted to announce Mr. Gafke's appointment to lead the growth of Paymate's services around the world, both to eBay members, and online retailers. In his role as a distinguished board member, Garrett has applied his wealth of leadership experience and industry-savvy to help shape Paymate's direction. Our integration into eBay.com earlier this year is recognition of our global credentials as a safe and secure payment provider, and Mr. Gafke brings strong credentials in entrepreneurship, executive management, as well as a deep understanding of the payments industry to this role."

eBay allows its sellers to accept Paymate on eBay.com as part of its move to electronic-only payments.

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Update:

"PayMate Removes Volume Requirements for eBay and Online Merchants"

is opening its service to smaller sellers by removing minimum volume requirements, effective October 29. The online payment service will now allow the smallest eBay and website seller to sign up to accept payments via Paymate. The company said eBay sellers must have a minimum of 10 feedback points and at least 98% positive feedback overall.

In addition, PayMate automated its system to give sellers immediate approval of a merchant account when they submit the Merchant Details after registration. Once approved, sellers can begin accepting payments right away.

PayMate is one of only a few payment services allowed on the eBay platform and it is integrated into eBay Checkout.

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Paymate announced the availability of the Paymate eBusiness account that allows website merchants and eBay customers to receive up to $10,000 per month. The online payment service will waive the initial $30 monthly fee for customers who sign up or upgrade prior to November 30. Fees for standard and eBusiness accounts are found online here.

Paymate can be used on merchants own websites as well as on eBay.com, TradeMe (New Zealand), and on several marketplaces in Australia, including eBay and OZtion.

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update:

"Paymate Payment Service 'Coping with Growth'"

Paymate's U.S. payment volume quadrupled in November over the previous month, according to Paymate founder Dilip Rao, who attributed the growth to opening the online-payment service to small eBay sellers in the U.S. at the end of October (link).

Overall, including the company's Australian and New Zealand markets, volume increased by 50% over October. "While the lead up to Christmas is the seasonal high for all online shopping, this will be our biggest period by far," Rao wrote on the Paymate blog. He said the Paymate teams in Sydney and California offices are working overtime to meet payment processing deadlines. "Given the unfamiliarity of our US clients with Paymate, we have a lot of questions coming in, so we are running behind on responses - we request patience from our clients during this period."

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I don't believe their numbers.

Look at their fees.

Standard Account - 3% + $0.50 per payment.

There is a US$5,000 limit on how much you can receive in a month.

EBusiness Account - 3% + $0.50 per payment.

There is a US$10,000 limit on how much you can receive in a month.

Monthly Fees: US$30.00.

charge back fee - $15 (just to fight charge back)

Authorization/EDC Fee of $0.50 applies to all Visa, MasterCard and Discover Network Card approval

Paypal & GCO has a small transactions fees,no charge back fee (only taken if seller looses the charge back) and no limits.I will pass paymate.

On top of that sellers have to maintain a ebay feedback rate of >98 %.

Most important is their refund terms.

Refunds can be processed by Paymate upon the seller's emailed request. There is no charge for refunds however the fee paid on the original payment is non refundable.


I wish Revolution Money Exchange to catch on fast among buyers.