[email protected] Signs with Billpoint for User Payment Options

[email protected] 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
card processing systems, the company said. Financial arrangements were not

“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 [email protected]
“We expect Billpoint to make e-commerce transactions between individuals as
easy as buying from an established online store,” said Hope Chen, chief
officer and co-president of Billpoint.

When an Excite classifieds or auctions user places an item for sale in the
general merchandise or collectibles area, they will be given the option of
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
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.

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