Starting 26 February 2009, PayMate is to provide its services to both eBay members and website merchants. The move is part of the auction websites initiative to adopt an online-only payments policy. eBay sellers who sign up for the PayMate service are charged 3 percent plus 50 cents for every transaction with no monthly or annual fee. Withdrawing funds into a bank account does not require any fee. Online shoppers can buy products on eBay via an online credit card authorisation. The process does not require customers to register with PayMate and the financial information is not disclosed to the sellers. The companys risk assessment service offers shoppers protection against unauthorised payment.
eBay has also incorporated US online payments service ProPay and on 5 February 2008 and has announced that the Moneybookers online payment method is to also become available to all its users.
PayMate currently provides internet-based payment services to buyers in 57 countries around the world and sellers in Australia and New Zealand. Sellers in Australia can accept payments in AUD, USD, GBP, EUR and NZD while sellers in New Zealand can accept payments in NZD. The service credits funds directly to the recipients bank account.
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