RealTime IT News

Excite@Home Signs with Billpoint for User Payment Options

Excite@Home and Billpoint said that Excite Classifieds and Auctions users will now be able to use Billpoint's person-to-person payment service to securely buy and sell in the computers, general merchandise and collectibles categories using their credit cards.

Billpoint's suite of payment processing and reporting services will enable individual sellers on Excite to accept credit card payments over the Internet without incurring the costly set up fees normally associated with credit card processing systems, the company said. Financial arrangements were not disclosed.

"By Integrating the Billpoint service, we now offer an integrated, safe, easy-to-use method of payment for private party Web transactions," said Andy Halliday, vice president of commerce at Excite@Home. "We expect Billpoint to make e-commerce transactions between individuals as easy as buying from an established online store," said Hope Chen, chief operating officer and co-president of Billpoint.

When an Excite classifieds or auctions user places an item for sale in the computers, general merchandise or collectibles area, they will be given the option of accepting credit card payments right from their classified or auction listing. When a seller chooses to use the Billpoint service, a 'Buy Now with Billpoint' button will appear on their classified ad or as a link in the e-mail that goes out at the end of their auction.

When a buyer clicks on the button or link and enters their credit card information, Billpoint verifies the availability of the buyer's funds and notifies the seller that it is OK to ship the item.

Billpoint was founded in 1998 with funding from Sequoia Capital. Billpoint was acquired by eBay in early 1999 and operates as a wholly owned subsidiary.