Require immediate payment with Buy It Now..... OR NOT?

[mnester01]

Hi, wondering what other sellers think about (or if there is some sort of consensus) whether or not it's better to "Require Immediate Payment" when using "Buy it Now". I've always just required it, but now I'm wondering if perhaps it's better not to. Or better not to under certain circumstances, or with certain items. 

What are the pros and cons?

Does Requiring Immediate Payment sometimes discourage sales? 

Does NOT Requiring Immediate Payment lead to more problems?

I appreciate any thoughts or information on this. Thank you. 

[sbbwest1]

Fantastic feedback Bob, I learned a lot of good information with your post. I’ve been on eBay for over 20 years and try to stay up on the features that the platform has. But these community posts with feedback from sellers are incredibly helpful.

Thank you!

Dianna 

[rosachs]

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@duncanvr wrote:

If no immediate pay on BIN they can simply not pay you for a week then you have to mess around block them and relist. My answer is immediate pay = absolutely!

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eBay can do that for you:  Account Settings > Selling Preferences:

The first setting tells eBay to monitor your unpaids.  Then you tell eBay how long you are willing to wait.  The third tells eBay whether or not to automatically relist for you.

No need to bother keeping track of anything - set it and forget it!

-Bob.

[rosachs]

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@sbbwest1 wrote:

Fantastic feedback Bob, I learned a lot of good information with your post. I’ve been on eBay for over 20 years and try to stay up on the features that the platform has. But these community posts with feedback from sellers are incredibly helpful.

Thank you!

Dianna 

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I'm old enough to remember when you had to build your own computer... and I mean soldering components onto circuit boards, not pulling pre-assembled, pre-tested stuff out of boxes.  🙂  And back then, everyone helped everyone... mostly because we were mostly computer nerds and sharing just came with the territory.

I'm pleased that you find value is my (too often) rambling posts.  I should add that I still learn new things from these boards as well, so it's give-some-take-some at it's best.  🙂

-Bob.

[leahcim1862]

If ALL of your sales are paid for at the time of the sale, then your business model assumes this will always be the case. Unfortunately, at some point, you will encounter the non-paying buyer (trust me, these buyers do exist). Why not have immediate payment turned on as a safety net since your business model expects this action from the buyer? Seems to be common sense to me.

[brightlightbookseller]

We don't, because we love getting combined orders, and thus we allow buyers up to 2 weeks to add to their order and then pay all together. That means in our eBay settings, it auto cancels the order after 19 days. I'm well aware many sellers are not able or willing to wait that long, and you can set it to whatever you're comfortable with, but unless you never or rarely get combined orders after some delay from the first purchase, you might be better off not requiring immediate payment.

It does, however, ward off some types of scams, so experienced users here on the forums will often recommend it to new sellers, even if they might not do it themselves (accounts that have been around a while are less likely to be targeted by those types of scams in the first place, I guess because of diminishing returns on the scammer's side).

[1qualityspectacles]

The decision to require immediate payment on eBay can depend on several factors, including the type of items you're selling, your target market, and your own preferences as a seller. Here are some considerations to help you make an informed decision:

1. **Buyer Convenience:** Requiring immediate payment can streamline the buying process for both you and the buyer. It ensures that the buyer commits to the purchase immediately, reducing the chances of them backing out or forgetting to pay.

2. **Faster Turnaround:** Immediate payment means you receive payment promptly, allowing you to ship the item sooner. This can lead to higher seller ratings and improved buyer satisfaction, as customers appreciate fast shipping.

3. **Reduced Unpaid Items:** Requiring immediate payment helps minimize the risk of unpaid items. Without immediate payment, buyers may commit to purchasing an item but delay payment or change their minds, leading to unpaid item cases and potentially relisting the item.

4. **Flexibility:** However, not requiring immediate payment can offer more flexibility to buyers, especially if they need some time to arrange payment or if they're purchasing multiple items from you. Some buyers may prefer this flexibility, particularly for higher-priced items.

5. **Market Dynamics:** Consider the market dynamics for your specific items. For example, if you're selling unique or rare items that attract serious buyers, requiring immediate payment may be more suitable. Conversely, for lower-priced or common items, buyers may appreciate the option to pay later.

6. **Competitive Advantage:** Assess what your competitors are doing. If most sellers in your niche require immediate payment, not doing so might put you at a disadvantage. Conversely, if few sellers require immediate payment, offering this option could set you apart and attract buyers.

Ultimately, there's no one-size-fits-all answer, and you may want to experiment with both options to see what works best for your business. You can always adjust your settings based on your experience and feedback from buyers.

[ckimodog]

@1qualityspectacles 

This is an old thread from April 2023.  The OP selected their best answer so I doubt they'll be replying. 

Should you have any questions or concerns or advice, it is always a good idea to start your own thread to get the help and advice for your specific issue or suggestions.

[kh-jean]

Hi everyone,



Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread HERE if you wish to continue to discuss this topic.



Thank you for understanding.