Instant payment VS non-instant payment

[philestore]

Hi!

Still learning my way through eBay's complexity...

Up until now, I would just leave the default option to allow the buyers to "not pay" instantly. I see there is an option that would "force" buyers to pay instantly on purchase.

Would I be loosing sales if I required immediate payment? I am asking because sometimes I feel it's long to get a payment...

Thanks again!

[mcrlmn · Accepted solution]

Immediate Payment required:
http://pages.ebay.ca/help/pay/require-immediate-payment.html

[philestore]

So... If I read correctly, requiring immediate payment does not guarantee immediate payment, but instead the item remains listed for another potential buyer to purchase it, and in the end the buyer who pays the fastest wins the auction? Am I understanding this alright?

[lady.stark]

"Immediate Payment Required" is not for auctions, unless you have a Buy It Now option. You can only use it on Fixed Price listings. But yes, it guarantees an immediate payment when the buyer clicks on "Buy It Now".

[femmefan1946 · Accepted solution]

Except....

If the buyer backs his Paypal account with a bank account, he is writing an 'e-cheque' which will take time to clear two banking systems(Canada and USA).

The money comes out of the buyer's account immediately,but may not get to the seller's account for as much as ten days, although usually only four or five.

Angst may ensue.

Do NOT ship until the e-cheque has cleared. They have been known to bounce.

Nonetheless, the buyer is deemed to have paid Immediately, and the item is removed from sale pending clearance.

"Never goes smooth. How come it never goes smooth?" - Mal Reynolds

[philestore]

Why is it all like this?l

Isn't almost every other online store charging the customer at the same moment that he buys the merchandise?

What if someone opens a fake account just to **bleep** me off and then makes me wait and redoes this just so that I can't sell the item?

Also, during the time that I am waiting for a payment that may never come, I can't sell the item to someone else... Un-moving inventory is lost money...

All my listings are buy-it-now with either free or fixed shipping... Shouldn't the customer pay when he buys?

Thanks!

[philestore]

Thanks everyone for all your answers, much appreciated!

[reallynicestamps]

Ever seen a box of cereal in the candy bin at the supermarket. Or milk sitting on the detergents shelf?

Failed transactions are a fact of life. Even more so when the seller is faceless, like you and I online, or Big Groceries.

[zee-chan-jpn-books]

I don’t require immediate payment because I’m not in a rush to get paid. However, I do find that 90% of my buyers would pay immediately anyway, and the few that needs more time usually will message me to tell me, so I’m happy with that.

[ricarmic]

Like zee, I am patient (the the extreme I guess, I give buyers the full 32 days to pay). I would say over 90% of my buyers pay right away as well.

I have noticed buyers, in Europe especially, often take a few days to pay. I strongly suspect they need that time to get the funds in place in PAYPALland (I know they hate PAYPAL there, don't know why tho).

I also have a very long time, very awesome Australian buyer who normally takes anywhere from 2 to 4 or so weeks to pay, often slowly accumulating a load to ship together. This is AOK by me, they have purchased an awful lot of stuff over the last 5 or so years!

I guess because I grew up in the old paper cheques world, I'm used to things taking a while.....payments are an awful lot better now!!!

[philestore]

Thanks everyone!