It's Payday - E-Bay Buying and Selling

It's Payday
By Marcia Layton Turner
August 01, 2008
Entrepreneur.com

Everything you need to know to manage and protect your payments on ebay.

Whether you're a new eBay seller or a seasoned pro with a fast-growing online empire, eBay has all the tools to make collecting and processing payments from customers faster and easier. From enabling credit card payments to finding online shipping links to tracking payments, eBay has amassed a range of services to make payment processing and tracking a snap.

Although many eBay sellers recognize that steps like inventory management, financial record keeping and shipping are important to the success of their online businesses, the truth is that payment management may be even more important.

Offer Buyers Choices
One strategy for increasing buyers' willingness to spend is to offer several payment options. "Being able to process payments, particularly in the way your buyer wants to pay you, is critical," says Jason Miner, a PayPal community specialist and the host of PayPal Radio. Limiting buyer options will only limit your sales. "Some days when you're shopping, you might want to pay via your bank account, and some days you would prefer to pay with a credit card," says Miner, just as your buyers may prefer different forms of payments on different days. Accepting only one form of payment may dissuade buyers from making a purchase if they aren't given the option to pay using their preferred means.

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