BidPay.com has launched a new patent pending
service that makes online auction transactions more efficient by offering
money orders for sale on the Internet.
The seller has the option to send the goods before the money order arrives
once they receive an e-mail confirming that the funds are on their way.
The company said its focus is on auction sites, such as eBay and Amazon, and
is planning to expand to other e-commerce markets.
In addition, BidPay makes
its services available to customers outside of the U.S. — if a seller
requests payment in the form of a money order, non-U.S. residents can now
purchase money orders in the correct currency.
“Online auctions were only lacking in one area and BidPay.com has responded
by offering money orders on the Internet,” said Stephen Chin, president of
BidPay. “We created the company to simplify the payment process after the
auction has ended and speed up the overall transaction time.”