Selecting the Best Payment Collection Method for Your Online Auction

 

One of the most interesting things about providing auction-based, e-commerce solutions over the last 20 years is seeing the variety of applications for which the software can be used. AuctionAnything.com services a wide range of client types with different payment collection requirements. We have clients selling low volume, high ticket items like salvageable steel, and others selling high volume, lower ticket products in a liquidation model. The diversity of requests has led AuctionAnything.com to develop a flexible invoicing and payment collection system which can be used by all types of businesses.

 

Invoicing System

The invoicing system is included with every auction solution regardless of which payment collection method is selected (if any). Therefore, if a business does not collect payments online, they can still utilize the invoice feature. For those that wish to leverage the power of the auction invoicing system, there are four basic approaches.

  1. Annotate Invoice Payment Status Only
  2. Record Payments with Details
  3. PayPal (online)
  4. Credit Card Module (online)

 

Annotate Payment Status Only

Some operations simply want to mark an invoice as “paid”, “partially paid” or “not paid”. This can easily be performed for invoices one-at-a-time or in bulk and is the simplest use of the system. In this case, payment details are omitted and a simple, invoice status indicator is used.

 

Record Payments

Looking for a little more information? If so, consider entering the amount, date and payment method when recording payments. Although still not an automated approach, this option opens up a whole new section of the system – the Payment Center. Once payment data is provided there are a number of reports which can be used. The Payment Center provides insight to a number of areas such as:

  • Top Buyers
  • Payments by Method
  • Payments by Year/Month/Day

 

PayPal

AuctionAnything.com offers a customer-driven (i.e. pseudo checkout), PayPal payment option for clients who are looking for a lower cost, automated, online payment solution. Highlights include:

  • NO AuctionAnything.com client set-up fee (PayPal fees apply).
  • Customers do not need to be PayPal members.
  • Payments automatically recorded in auction invoicing system when processed by PayPal.
  • Customers can pay securely using variety of methods (bank, credit card, debit card or PayPal balance).
  • No customer credit card profile required to bid.

 

Credit Card Module

The credit card module allows clients to use their own merchant account to collect payments from their customers and is the quickest, most automated solution. Highlights include:

  • Members required to create a credit card profile in order to bid.
  • Batch credit card processing provides faster payment collection.
  • Admin driven payment function virtually eliminates non-payment.
  • Process single payments for customers who wish to use multiple credit cards or payment methods.
  • Ability to easily process refunds/credits.

 

AuctionAnything.com provides payment collection options for a variety of online auction applications. In addition, the built-in invoicing system can be used by all clients, even if an online payment option is not utilized.

 

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