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Payments Methods Available on bidorbuy
Posted by bidorbuy Admin, Last modified by bidorbuy Marketing on 20 December 2017 11:47 AM

Setting up Payment Options

Payment options are used to indicate to potential Buyers which forms of payment Sellers accept. Sellers set up their payment options once, and these options automatically apply to all their listings.

As of end 2013, all newly registered Sellers must accept bobPay-EFT as one of their payment methods. Basic Sellers are restricted to receiving payments by bobPay-EFT only. If you are a Seller and would like to accept other payment options, such as credit card, you need to become an Advanced Seller.

We recommended to Sellers who registered prior to end-2013 to accept bobPay-EFT because this method is integrated with other sales tools provided, making management of sales much easier.

Sellers may view and edit existing Payment Options by checking the box next to the default options they would like to offer. The checked payment options will appear in item listings, under the 'Payment' section.

Some payment options have two informational text boxes.

The first box: Sellers, include here any additional information to be made public. The information will display on item pages before a purchase is made. Include here information such as "cheque payments require a 7 day clearance period". Do not include contact details or bank account details in the first box.

The second box: Sellers, include here any additional information the buyers need to know after they have completed a purchase from you. For example: if,  under "Other Payment Options", you want to offer EFT payments directly into your own bank account, you may include your bank details in the second box. This information will only be displayed to buyers once they have completed a purchase from you and will save you from having to communicate these details with the buyer.

It is advisable to offer several payment options. You as a Seller should bear in mind that some Buyers may not have a credit card or internet banking facilities.

bobPay-EFT Payments

The most popular method of payment on bidorbuy is EFT (Electronic Funds Transfer or internet banking; also includes direct and cash deposits).

Normal EFT can take up to two day waiting period for funds to be cleared when the payer and receiver bank with different banks. EFT also requires manual reconciliation; sometimes, payers use references that make their payment impossible to match with their purchase (a problem compounded by the different terminology presented by each bank to payers when making EFT payments).

bobPay-EFT goes a long way to address the shortfalls of receiving payments for sales on bidorbuy via EFT. bobPay–EFT is available to all Sellers provided they can receive payout requests into a South African bank account. bobPay-EFT is mandatory for all newly registered sellers.

bidorbuy has opened bank accounts with each of the major South African banks (Absa, FNB, Standard Bank and Nedbank). Payers select the bank they would like to make payments into, eliminating the usual delay for payments made between different banks. Payers are also provided with payment instructions customised to the bank they are paying from. In addition, bidorbuy has implemented a system to reconcile the payments received; in most cases, both the Buyer and Seller are notified of receipt of the payment within half an hour of the payment being made.

When Buyers opt to pay using bobPay-EFT upon completing orders through the bidorbuy system, the status of the payment on the orders is set to “Awaiting EFT Payment”. Once payment has been received the Buyer and the Seller are notified and the status is set to “Payment Completed”. Sellers are advised not to ship goods until payment has been completed; “Awaiting EFT Payment” is not a guarantee that the payment has been received.

Once payment has been received the amount received is credited to the Seller’s bidorbuy account and the Seller can request a payout (login required) of the credit balance to their South African bank account of choice at any time.

The advantages of using bobPay-EFT for Sellers and Buyers include:

  • No high credit card processing charges.
  • There is currently no charge for the service. In future, it may however be necessary to charge a nominal fee for this service due to the bank charges and admin overheads required to run the system.
  • No risk of charge backs as is the case with credit cards.
  • Automatic reconciliation of payments received, usually within 30 minutes (an email notification is sent to the Buyer and the Seller once payment has been received, and the payment status of the order on the bidorbuy system is set to ”Payment Completed” so the Seller can ship the goods knowing that the funds have been received).
  • The Buyer links directly to their internet banking portal so payment can be made quickly (Buyer logs in to their internet banking, thus security is not an issue).
  • Speedy confirmation of payment if the Buyer pays via EFT from one of the big four banks.

Please take note of the following:


  • Please ensure you use the correct unique 6 digit reference number starting with a “3” provided by bidorbuy when making payment (this reference can also be used for direct deposits and cash deposits if the Buyer does not have internet banking, the system will reconcile the reference to the correct order). If the correct reference is not used, it may hamper the process and delay the payment reconciliation, thus delaying your order.
  • Cash deposits attract a R20 cash deposit fee payable by the Buyer.
  • If an incorrect reference is used, bidorbuy or the Seller may ask you to send a proof of payment to so the payment can be traced and allocated correctly.
  • bidorbuy does not act as a trust or escrow service, nor do we offer any guarantees regarding payments and delivery.


  • Under normal circumstances payments are reflected within 30 minutes, however, sometimes the clearing from the bank can be delayed for up to 24-48 hours. This is out of our control and is determined by the bank concerned.
  • Pay out requests received before 9am on a business day are processed on the same day, payouts are not processed over weekends or public holidays. Pay outs requests after 9am will only be processed the following business day.
  • bidorbuy may request ID and address verification documents before crediting your bank account; this is to ensure the security and safety of all our users.
  • bobPay–EFT is not available to overseas Sellers, Sellers must have a valid South African bank account.

View the bobpay User Agreement terms and conditions for using bobPay – EFT.

bobPay-Credit Card Payments

Sellers who want to accept credit card payments (Visa, MasterCard, Diners and American Express credit cards) from Buyers through the bidorbuy system have to be approved as bidorbuy Verified Users. Sellers have the option to accept or reject each credit card payment. Once accepted, these funds are credited to the Seller’s bidorbuy account. Sellers can request a payout of the credit balance in their bidorbuy account at any time. This credit will be transferred to their South African bank account.

The advantages of using bobPay–Credit Card for Buyers and Sellers include:

  • Sellers can accept speedy payments for purchases, as credit card payments are almost instantaneous.
  • Added convenience for Buyers, easy and quick to make payment.
  • Orders can be processed quickly thus resulting in early shipment of goods to the Buyer.

Sellers offering bobPay Credit Card should be aware of the following:

  • There are bank charges involved.
  • There is a risk of charge backs. The Seller ultimately takes the risk for reversal of the transaction in case the credit card was used fraudulently (a charge back can take place up to 180 days after the transaction).

View the terms for accepting payment using bobPay-Credit Card in the bobPay User Agreement.PayPal Secure Payments


bobBucks are bidorbuy vouchers. Buyers are able to purchase items using bobBucks from sellers who offer bobPay EFT. As far as Sellers are concerned, the bobBucks voucher credit will be treated in the same way as a bobPay-EFT. The funds are credited to Sellers' bidorbuy account and they may request a payout. bobBucks will automatically be offered alongside bobPay EFT as a payment option.

Buyers who receive a bobBucks voucher as a gift need to redeem it so that it reflects in their bobBucks account. If Buyers purchase items valued at more than the bobBucks voucher, they will need to pay up a top-up payment using other payment methods. If they purchase items valued at less than the bobBucks voucher, the 'change' will remain in their bobBucks account for them to use the next time they choose to. For further details, click here.

Discovery Miles

Buyers with Discovery Miles (which they earn with the Discovery Credit Card) can shop on bidorbuy and pay for items from Sellers that accept Discovery Miles. Find out more about using Discovery Miles as a Buyer and activating Discovery Miles as a Seller.


Buyers can pay with bitcoins for products that have bitcoins listed as a payment option in the “Shipment & Payment” tab. Sellers can accept  bitcoins by activating this payment option. Please read more in this article: Activating and Using Bitcoin as a Payment Option.


Mobicred is a simple and convenient online credit payment facility that allows buyers to shop on bidorbuy and repay the amount over 12 months. Advanced sellers can activate mobicred as a payment option. Please read more in this article: Shop on Credit: mobicred Payment Option.


Buyers who have the SnapScan app can pay for products using the SnapScan payment method. SnapScan is a free app which allows you to securely link your credit or debit card to easily pay on the go, wherever or whenever. Your card details are securely encrypted on your phone, neither SnapScan or bidorbuy will have access to your card details. Please read more in this article: Activating and Using SnapScan as a Payment Option.


Sellers may choose to offer SCode, the payment option that allows buyers to pay with cash, debit card or credit card at physical retail outlets. Buyers can make payments at over 6,000 Money Market counters of Checkers, Checkers Hyper, House & Home, OK, Shoprite, U$ave, and at the South African Post Office. Read more about Activating and Using SCode as a Payment Option.


bidorbuy has no control over PayPal and is completely independent of PayPal. However, Buyers and Sellers on bidorbuy can transact using PayPal payment method.

If Sellers want to offer PayPal as a payment option, they need to enter add their PayPal Account ID into the bidorbuy system. When Buyers opt to pay using PayPal, bidorbuy will guide them through the payment process on PayPal and attempt to record completed PayPal payments against the order on the bidorbuy system.

Please note:

  • To transact via PayPal payment method, both the Seller and the Buyer need to register with PayPal.
  • PayPal is currently not offered as one of the default payment methods on bidorbuy. In order to be able to receive PayPal payments for items sold on the site, Sellers need to be Advanced Sellers and to contact our Support team to activate this option.
  • PayPal does not offer South African Rands as a currency. The seller will select one of the foreign PayPal currencies in which to receive payment. At the time of payment, bidorbuy will convert the total payment amount from Rands to the chosen currency using the latest exchange rate.
  • PayPal method of payment may be used only for international transactions, and not for local ones.
  • Unless you are a Seller from outside South Africa or expect to receive many payments from Buyers outside of South Africa, PayPal is not recommended as a payment option. 

Other Payment Options

Sellers can set up any number of other custom payment options in this section. However, Sellers who select bobPay-EFT should not also offer EFT (internet banking) directly into thier own bank account as a payment option (this could confuse Buyer).

  • EFT is an electronic payment made off the bidorbuy site directly into Seller's own bank account. Typically, the Buyer would have to enter Seller's bank details into his or her electronic or internet banking facility.
  • Direct deposit is a payment into Seller's bank account. Since this is a broad term, you as a Seller need to specify what form of direct deposit you accept (cash or cheque). Cash is problematic due to bank charges. As to cheques – if you do decide to accept them, make sure to warn Buyers in your payment terms that they will need to wait seven to ten days for the cheque to clear before the goods are dispatched. Just to make things double clear, repeat that condition in your shipping terms too.
  • Cash is, of course, cash, but may mean either cash deposited into your account or the cash the Buyer hands over to you in case you accept collections, or in case you deliver to certain areas. Most bidorbuy Sellers rule out cash deposits, or require the Buyer to add one or two percent to the price when depositing cash. This is because South African banks charge a rather high fee on cash deposits.
  • COD means cash (or cheque) on delivery. Again, you need to specify whether you accept cash or cheques. We would advise against accepting cheques due to high bounce rates.
  • Credit card. Select the credit card pre-defined option only if you are not an Internet credit card merchant. Then direct the Buyer to your secure credit card payment page.
  • International transfers are a good-to-have option if you envisage selling to customers outside South Africa. Since international transfers involve banks talking to each other across national frontiers, this is usually a lengthy process and as a rule an expensive exercise. Make sure to specify which of the banking charges, on either side of the border, are for the Buyer's account.

Escrow service

Involves using a trusted agent who keeps the money until the Buyer signals that the payment may be released to the Seller. Should there be any dispute, then the escrow company intervenes retuning the money to the Buyer after the goods have been returned to the Seller, if applicable. This method is rather costly for Sellers and is occasionally used for high value transactions.

Conclusion and Recommendations

In summary bidorbuy, recommends that Sellers set their payment options as follows:

  1. bobPay–EFT. In order to avoid any possible confusion for Buyers, Sellers should make bobPay–EFT the only electronic / internet / online method of payment offered. If you have bobPay-EFT as one of your payment options, do not include "normal" EFT too in “Other payment methods" section.
  2. bobPay–Credit Card. Assuming you are willing to take the risk of charge backs, credit cards are still considered the most convenient way of paying for goods online and if at all possible this option should be offered to Buyers. In order to accept bobPay–Credit Card payments, you will need to become a Verified User.
  3. Other Payment Options. It is recommended that other payment options are limited to “cash deposit”, “cheque” etc. assuming you are willing to accept these additional methods of payment. In order to encourage Buyers to pay via one of the online payment methods, do not include your banking details in your post sales note, rather, include a message in the post sales note such as: “Contact Seller to arrange for payment via cash deposit, cheque, or money order.”


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