The Paymate Users Guide: Share what you know.

[IDK]

Paymate has not been discussed enough here IMO, so I made this thread so everyone can come and ask questions, and share experiences.

My experience so far.

I opened my account using my real info (banned on eBay)

From what I heard, the approval process is lengthy, but my account was approved immediately. It stated that I may accept payments, but my info would be reviewed once I receive a payment.

I received my first payment a couple of days ago. ($120) I got no calls from them, nor did I get any emails, so I assume they run your (required) ssn for name match, address ect. Or maybe they wait until you start raking in a lot of cash before they put you under a microscope. Not sure. Only time will tell.

I am currently selling VeRo. From the looks of things, the auction ID does not show up in your payment info. So it's possible that they don't even know what your selling, and probably wont care as long as you are doing the volume of sales you stated on your merchant APP. Speaking of, Paymate is not considered a merchant account by eBay, so you can't require immediate payments or use UK visibility.

Someone stated they could not list 1 day auctions with Paymate. I have had no problems doing so.

The major concern for me is that it takes way too long for payments to process. 3-4 days before you know if a payment has cleared is unacceptable. If you use your own money to ship, you could screw yourself if the payment doesn't clear. You lose money, and product. Shipping 4 days after payment is unacceptable for the buyer, so expect neutrals, and low shipping DSR's if you refuse to ship until payment is received. Hopefully complaints will roll in, and force them to have payments cleared in a couple of days.

If I'm not mistaken. I read somewhere that it does not show in "my ebay" when your receive a payment through Paymate, but it does.

Bottom line I think this company is trying to go prime time so a lot has probably changed since they first became available. That's pretty much all I have for now, but I will up date as often as possible.

+ADD

[cardfelon]

I use Paymate on one of my accounts. I have been using them for 2 months and never had any issues till yesterday. I had been selling VERO items and finally they "suspended" my account for further verification. The only thing they wanted was a copy of my DL and a utility bill. I faxed them the information and then called and spoke to the VP in charge of sales and my account was back on within minutes. They have never asked me for any sort supplier details.

The amount of time it takes to process payments does take awhile. But it shouldn't take 3-4 business days. I always will ship once I get the payment-confirmation email which you get in 1-2 business days. I put the handling time as 3 days in all my listings and ship everything via Priority Mail so they get it within 2-3 days from the day I ship. So my customers get their item with 5-6 business days.

Overall I am very happy with Paymate and have not had any issues with my customers using them.

[IDK]

Originally Posted by cardfelon

I use Paymate on one of my accounts. I have been using them for 2 months and never had any issues till yesterday. I had been selling VERO items and finally they "suspended" my account for further verification. The only thing they wanted was a copy of my DL and a utility bill. I faxed them the information and then called and spoke to the VP in charge of sales and my account was back on within minutes. They have never asked me for any sort supplier details.

The amount of time it takes to process payments does take awhile. But it shouldn't take 3-4 business days. I always will ship once I get the payment-confirmation email which you get in 1-2 business days. I put the handling time as 3 days in all my listings and ship everything via Priority Mail so they get it within 2-3 days from the day I ship. So my customers get their item with 5-6 business days.

Overall I am very happy with Paymate and have not had any issues with my customers using them.

If you don't mind answering. How much volume were you doing? Did you go over the 5K limit? Did you have a unusual spike in sales? Why do you think they decided to limit you? Also how did the limit effect your sales? Were you waiting for payments? Did any get reversed?

[cardfelon]

I haven't gone over the 5k limit. I have been around 3k a month so far. I didn't want to try and push it too quick. I didn't have a unusual spike in sales numbers just the transaction amounts were normally around $100 and I had several that were in the $350 range. The limit was less than 24hrs so it didn't effect anything. I just faxed the copys they requested and called to follow up and my account was reinstated right away. All of my payments that were being processed weren't affected at all. I have not had anything reversed.

[ugly greasanova]

This is the first that I have heard of paymate and I'm very interested!

From their website:

"Sellers on eBay - New & used electronics, cars, apparel, collectibles, sporting goods & more at low prices can now select Paymate as an approved payment option and link their eBay account with Paymate for ease of use.
PLEASE NOTE: eBay sellers must have a Feedback Count (AS AS SELLER ) of at least 10 in the last 6 months, with a Positive Feedback Rating of at least 98%. eBay sellers must validate their Member ID by linking it to Paymate."

Besides this linkage, I assume that they do not share any personal info with ebay?

Do they integrate into any sort of automated ebay helper such as vendio, inkfrog, etc.?

If so, does this prevent the need to link an ebay id?

Does anyone know if you can receive payment from multiple ebay accounts?

Also, just in case anyone else is curious about what it costs, this is from the website:

"The current seller fees for a standard account is 3% + $0.50 per payment.
There is a US$5,000 limit on how much you can receive in a month.
Annual Fees: None.
Monthly Fees: None.
There are no fees for buyers and they do not need to register to make a credit card payment."

Sounds beautiful!

[cardfelon]

No they do not integrate anything into any of your auctions. Your buyer will pay directly through Ebay when they click on the "Pay Now" button. You can only have one Ebay account linked to each Paymate account but they allow you to have more than one Paymate account in the same name even though it is linked to a different Ebay account. Yes there are no additional fees to the buyer and as a seller they take 3% and .50 for each transaction. But with the no fee account the max limit you are allowed to receive is $5,000 and if you want to receive more then you have to upgrade your account and there is a monthly service charge for that.

[nobody999]

do you have to provide real info or can you use stealth info for paymate?

[cardfelon]

Depends on what you sell. It took awhile before they actually asked for a DL and Utility Bill. And they only asked me after I sold 4 Iphones in a few days. So I faxed them the info and my account was straightened out right away.

[nobody999]

did you give them real dl and utililty bill info?

[GreenBean]

Real info is used to register for paymate. Stealth a dirty word with them
They offer 'tiered' services depending on your volume of sales.

[nobody999]

Originally Posted by GreenBean

Real info is used to register for paymate. Stealth a dirty word with them
They offer 'tiered' services depending on your volume of sales.

does that mean by using paymate, your ebay account info has to be legit?

[IDK]

Originally Posted by cardfelon

No they do not integrate anything into any of your auctions. Your buyer will pay directly through Ebay when they click on the "Pay Now" button. You can only have one Ebay account linked to each Paymate account but they allow you to have more than one Paymate account in the same name even though it is linked to a different Ebay account. Yes there are no additional fees to the buyer and as a seller they take 3% and .50 for each transaction. But with the no fee account the max limit you are allowed to receive is $5,000 and if you want to receive more then you have to upgrade your account and there is a monthly service charge for that.

This I did not know. How do you go about getting a second account in the same name? Just do another APP, or what?

[IDK]

Originally Posted by nobody999

does that mean by using paymate, your ebay account info has to be legit?

No, your paymate info has to be legit because you will need to provide a ssn. I am currently using banned eBay info, and I have had no problems. *knocks on wood*

As I stated before, the killer is the processing of payments. My funds wont be deposited into my account until the 23rd. That's a full 5 days since my buyer paid for the auction! This is not good for drop shippers like myself. I don't believe in sending shipments without a cleared payment. It also sucks if your doing large volume sales. If it wasn't for that, they would blow PP out of the water.

[GreenBean]

@thablewprnt, that is a drawback for the USA. In Australia they pay within 24 hours after transaction approval. If buyers could be less brain-washed, they would go well.

[cardfelon]

I ship my items as soon as I get the email saying the payment has been approved. That is only 2-3 days from the time they pay and it goes by USPS Priority Mail so they get the item within 5-6 business days from payment and I have got 5 stars in my DSR ratings. As for drop shipping your items that in my opinion is like playing with a loaded gun. Allowing someone else to be in control of your supply chain can cause problems with the shipping times for sure. I mean its not there Ebay account that will get the low DSR ratings if the item is wrong or shipped late. But everybody does things differently and if it works for you then more power to you.

Originally Posted by thablewprnt

No, your paymate info has to be legit because you will need to provide a ssn. I am currently using banned eBay info, and I have had no problems. *knocks on wood*

As I stated before, the killer is the processing of payments. My funds wont be deposited into my account until the 23rd. That's a full 5 days since my buyer paid for the auction! This is not good for drop shippers like myself. I don't believe in sending shipments without a cleared payment. It also sucks if your doing large volume sales. If it wasn't for that, they would blow PP out of the water.

[MtnDew]

ok so im on board! lol making diff paymate accounts for each ebay account is the correct way it seems....

now since im using my real name and addy for all my accounts...do i use the same bank account on all...seems like a simple yes but just checking

[jbluntz]

The only problem with using your real info with paymate, is if you're selling vero the vero rights owner can easily get your info from paymate and send you a letter. It happened to me once but that was with moneybookers.

[jamblix]

I've been contemplating about Paymate for awhile now, the only thing that really bothers me is the fact that you have to wait for the payment to clear before shipping out. Cardfelon is shedding some bright light though with the fact that you get a confirmation e-mail with the approved payment.

I have a question though about the volume of sales. When you're applying for a seller account and provide them with the volume of sales. What happens if you don't reach that volume or go over?

[cardfelon]

They automatically give you a $5000 limit per 30 days. If you want a higher limit you just have to upgrade your account for a one time fee. When you sign up they will ask you for the average transaction price. I always put in the highest amount of anything that I can think of I will sell and it works pretty good.