Word: billpoint
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Dates: during 2000-2000
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...second time in a week I had been steered to PayPal. A few days earlier, I won an auction on eBay, and the seller's listing said he accepted payment through PayPal and Billpoint. I knew these were the two leaders in the online-payment field, with millions of registered users between them, but I had never used either one. I decided to give PayPal...
...cost, for me, couldn't be better. PayPal and Billpoint are free to payers, and Billpoint is currently running a promotion that takes $1 off all purchases made with a Visa card. PayPal actually pays you $5 to open an account and another $5 for each friend you refer. Both services make their money by charging the seller a small fixed fee and a percentage of the total dollar amount sent on each transaction...
PayPal and Billpoint are a great way to make payments to individuals and small businesses. But the "killer app" right now seems to be auctions. PayPal is used in an estimated one-fourth of all eBay auctions. And Billpoint, which is partly owned by eBay and seamlessly integrated into its payment system, is used for many more. PayPal's website includes a handy list of ways you might want to use the service, from sending money to kids away at college to "collecting payments from co-workers for office pools." (Wait, aren't there laws about that?) But the truth...
...That means in the future, when you go shopping or eat out, instead of reaching for your wallet, you may reach for your cell phone--and an online-payment service. Ultimately, it may be your cash--as much as your frantic hunts for first-class postage--that PayPal and Billpoint render obsolete...
Users of the popular auction site will have another way to make transactions. eBay and Wells Fargo are rolling out Billpoint, a service that allows sellers to accept credit cards without establishing merchant accounts. Instead of waiting to receive a check or money order, sellers will get immediate payment to their checking account once the buyer inputs his or her credit-card data. After the first three months, sellers using Billpoint will pay 3.5% of the purchase amount plus 35[cents]. Sales under $10 will get off a little easier and cost only 35[cents...
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