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We are at a pivotal point in our website: should we accept payments in full, or pass the info onto the sellers?
Here are some pros and cons we've come up with:
Accepting payments in full (i.e. Amazon.com):
Pros:
- easier for the customer
- large point of differenciation between us and other sites
- makes seller's lives easier as they don't have to continually check their email all day
Cons:
- any chargebacks would be taken out of our acct.
- potentially much more expensive to get the coding done
- potential tax consequences (we might have to 1099 them)
- potential certification/licensure issues
- potentially a lot more expensive for us as there are multiple fees involved
Passing the info along (i.e. ebay):
Pros:
- we only handle our fee
- we are not in the middle of potential scams/chargebacks
Cons:
- doesn't solve the seller's problem 100%
- still not as seamless for the buyer as it should be
Any thoughts?
Here are some pros and cons we've come up with:
Accepting payments in full (i.e. Amazon.com):
Pros:
- easier for the customer
- large point of differenciation between us and other sites
- makes seller's lives easier as they don't have to continually check their email all day
Cons:
- any chargebacks would be taken out of our acct.
- potentially much more expensive to get the coding done
- potential tax consequences (we might have to 1099 them)
- potential certification/licensure issues
- potentially a lot more expensive for us as there are multiple fees involved
Passing the info along (i.e. ebay):
Pros:
- we only handle our fee
- we are not in the middle of potential scams/chargebacks
Cons:
- doesn't solve the seller's problem 100%
- still not as seamless for the buyer as it should be
Any thoughts?
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