eBay

dipmicro · ‎07-27-2010

Just seen an online offer from PCF on this feature. Also checked with CIBC, where I have my business acct (PCF is practically CIBC) and they also support it.

Seems like banks are going into PayPal territory. Good for us.

The fee is flat $1.50 between both banks, which makes it rather attractive for payments over $48 (assuming 2.5% rate + $0.30 flat fee from PayPal). There is some insignificant limitations (like $10 minimum per transaction, etc). I searched the agreement for the word "fee" (no way I am reading the whole thing 🙂 and there does not seem to be any mention of percentual fees.

Anyone successfully using this? How long has this been around?

coxengines · ‎07-27-2010

It has been around for a bout 10 years or so.

We have been using it for 2-3 years but, since only about 2% of our sales are within Canada, we only get a few every year.

The fee is paid by the sender ($1.50 typically) and we let the buyer pay CAD at par, win - win for all.

Bernie

pierrelebel · ‎07-27-2010

Many of my regular buyers have been using the service regularly. I love it: free to sellers are no risks of reversal or chargeback.

The service was known as CertaPay until purchased by the Interac system about five years ago. Interac email Payment is owned equally by the Big Five (20% each).

Unfortunately, sellers are no longer allowed to advertise this method of payment in their eBay listings (we could until early 2009).

dipmicro · ‎07-27-2010

Seems I have been living in a cave 🙂

Currently about 30-50% of my business comes from my store, depending on the week. Bernie sent me some hints still pending to implement and ratio may change even more. I could easily modify the checkout to offer this option on payments over $50 and discount total by $1.50

How long does it take to clear?

pierrelebel · ‎07-27-2010

"How long does it take to clear?"

Usually less than one hour from the time the buyer initiate payment online to the time you receive an email from Interac confirming the money is available.

It can then be transfered instantly to your bank account online, after answering the security question (answer selected by buyer) as long as you and your buyers bank with one of the Big Fives.

axe_n_gear_music · ‎07-27-2010

Yes, INTERAC Email Money Transfer works great, I have used it sparingly for a few years now. I used to offer it in my listings and loved it, but we are no longer allowed to.
I get maybe two a year (can only be from Canadian buyers), and only if they ask. It is very secure, and very fast, (same day) which is a real bonus.

Feebay wont let you advertise it, because they lose commish when Paypal isn't used. They'd rather us wait for echecks to clear for 8 days, and then have unhappy buyers who complain about slow ship times X-(
wow.....

Cheers,
AXE

momoftwingles2 · ‎07-27-2010

I use this method as well and have many Canadian buyers that appreciate the opportunity to use it with me.

When I send out my info e-mail to them through Blackthorne BEFORE I send their combined invoice...I include in that e-mail that they have the option of paying using INTERAC Email Money Transfer and may pay in Canadian funds. That's a bonus to many...and for me as well with no fees.

Susan

godboma · ‎07-28-2010

One of my customer had problem with Paypal and offer to pay by INTERAC email. My bank does not support it but I was able to receive the money. It cost me 4.50$ (if my memory is good). The transaction was a little over 200$ so it was less than Paypal fee.

I am accepting INTERAC online on my web site with my merchant account. The fee is a flat rate of 0.84$ per transaction. Very nice!!!