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anthony03

Mobi Credit on Bid or Buy

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anthony03

Greetings all- Just noticed a new message from Bid or Buy promoting Mobi Credit as a method of payment. It mentioned a small fee for the transaction and when I contacted them this morning it turns out that I would have to fork out and additional 4.32% for that transaction. I stopped the Credit Card option as a method of payment ( 5%) for this very reason. I personally cannot see this taking off and I would not use it as a payment option as the buyer would already be paying out interest in the form of 21% per annum which would surely be sufficient profit for the provider. This is not a win win situation for sellers.

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CardinaJewels

Tend to disagree personally. It is the oddest thing to me why people wont accept credit cards because of the fees, Personally like many other people I will use my card to swipe for everything, if online and say I am looking for a laptop seller A has the laptop I want but do not accept credit card or mobi cred, I do not have the money available right now but want to use my credit, so I find seller B who has the same or similar laptop and does accept my payment method. Simple as that, Seller A gets no sale, Seller B now instead of 30% profit makes only 25% profit but its a sale he did not have otherwise. Studies have shown for a fact that stores that do not accept card facilities lose out on sales, It makes more sense to offer as many payment options as possible.

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mrmouse

I agree with credit card as well , i offer card facilities on all goods for sale and allways look for a seller that accepts a credit card my E Bucks that I get from swiping my card far outweigh any negatives .

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bellemodel

I suppose it only works if you have big profit margins.

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mrmouse
I suppose it only works if you have big profit margins.

 

Actually not ,wouldnt you rather have 20 items sold and loose 5 percent than have 1 sold as cash .youre profit on a single itemmay drop but your turnover is sure to go up

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bellemodel

At least profit margins bigger than 5% and profit bigger than R30 (making up a parcel, calling the courier, send tracking numbers, etc. for less than R30 is not worth it)

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