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What Is bobPay?
Posted by bidorbuy Admin, Last modified by bidorbuy Marketing on 24 April 2014 03:26 PM

bidorbuy offers to Sellers a built-in payment solution which adds convenience, speed and efficiency to the transaction. There are two options:

The bobPay Credit Card payment system which allows Verified Sellers and Sellers who have been approved by bidorbuy to accept credit card payments from Buyers. bidorbuy receives the payment, via a secure payment gateway, and the Seller is then credited with this amount, minus the bank fees charged by bidorbuy (currently set at 5% per transaction). 

bobPay EFT is also available to all Sellers provided they can receive payout requests into a South African bank account. bidorbuy has opened bank accounts with each of the major South African banks (Absa, FNB, Standard Bank and Nedbank) thereby allowing payers to select the bank they would like to make payments into, thus eliminating the usual delay for payments made between different banks. In order to further streamline the process payers are provided with payment instructions customised to the bank they are paying from. bidorbuy has also implemented a system to reconcile the payments received and in most cases both the Buyer and Seller are notified of receipt of the payment within half an hour of the payment being made.

 

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