one are the days when only
cash (or cattle in some Cash On Delivery
cases) was the only
accepted mode of payment for Cash is, after all, still cash.
trades. As the concept of trading This payment method can be done
evolved, so did the means of through a third party courier
paying for items. system or by the buyer and seller
meeting each other at an agreed
Today's electronic world pushes place. The advantage of a cash
the envelop further. With the transaction is that the exchange
advent of online trading systems of the item for payment is done
such as eBay, many new forms of in the presence of the buyer and
payment have flourished. the seller (or the seller's
representative). However, some
First of all, on eBay, the mode people will not accept the risk
of payment depends on the present when two strangers meet.
agreement between the buyer and
the seller. Most often, the Personal Check
seller will specify his or her
desired payment method. In these One popular method of payment is
cases, the seller often has personal check. Writing checks is
primacy in the decisions easy and safe. However, many
regarding payment modes. However, sellers do not like accepting
the buyer may still communicate check because they are easy to
with the seller regarding a cancel.
viable alternative if it suits
both parties. PayPal
The following is a list of common PayPal is the payment of choice
eBay payment modes. on eBay. In fact, eBay owns
PayPal. to the seller. This system makes
for a very safe, although highly
Using PayPal is easy, convenient, procedural transaction.
and relatively safe. PayPal acts
as like an internet ‘wire Wire Transfer
transfer.'
This is the payment of choice for
After signing-up for PayPal, one countries that do not carry the
may send cash to anyone with an PayPal service. Wire transfers
email address using the PayPal are risky because the buyer
system. PayPal also has security usually has to wire over the
features that safeguard against funds before the seller sends the
fraud in case there is a dispute items. The chance for
between the seller and the buyer. non-delivery of items is high.
This system is best for
transactions up to $1000. Other Payment Systems
Escrow.com The number of third party payment
services is steadily on the rise.
Escrow.com is the payment of Their systems for payment vary.
choice for purchases over $500. However, to be successful they
Escrow.com holds the buyer's must be convenient to use and
money from the seller until the safe as well.
seller delivers the item. Only
then will the funds be released
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