This article describes the different payment solutions when utilizing atgPay on an auction event.
This article contains the following sections:
atgPay Payment Methods
Once atgPay is enabled on an event, winning bidders can pay via one of the following methods:
Credit Card
A credit card is a line of credit issued by a bank or financial services company that allows the winning bidder to borrow funds to pay for their winning items. Credit card transactions are subject to a credit line and the auction house could be subject to bank/processor fees.
Proxibid's payment processor will review high-dollar transactions to determine if additional information is required to approve. See atgPay: High-Dollar Transactions for more information.
Credit card payments are a fast and secure method of collecting payment from your winning bidder.
Please note that an auction house's first atgPay disbursement will have a 5 business day payout delay. For more information, see atgPay: Refunds and Disbursements.
For information on setting Credit Card Limits on an event, see atgPay: Credit Card Limits.
Bank Transfer (ACH)
ACH or Automated Clearing House is a U.S. financial network used for electronic payments and money transfers. Also known as "direct payments". ACH payments are a way to transfer money from one bank account to another without using paper checks, credit card networks, wire transfers, or cash.
Unlike credit transactions, ACH has no bank/processor fees, yet like credit transactions, ACH is safe, secure and easy to utilize. Spending limits are restricted to the balance of the account, although our payment processor will review the transaction to determine if additional information is required to approve. See atgPay: High-Dollar Transactions for more information.
Due to the nature of the transaction, Bank Transfers can take up to 5-7 business days to clear. Once cleared, disbursements of ACH payments are handled in the same fashion credit/debit card payments are disbursed. There is no delay on disbursements once payment is successful.
Please note that an auction house's first atgPay disbursement will have a 5 business day payout delay. for more information, see atgPay: Refunds and Disbursements.
- For more information on the benefits of utilizing Bank Transfer (ACH) with atgPay, see atgPay: Bank Transfer (ACH).
- Full information on how winning bidders can pay their invoice on an atgPay enabled event see Paying with atgPay.
Updating Payment Instructions
The Payment Instructions field under the event's Payment & Terms should be updated to reflect the use of atgPay, along with accepted payment methods, payment deadlines, etc.
Proxibid suggests adding the following statement to the event's Payment Instructions to indicate to bidders that the event is using atgPay: "At the end of the auction, Buyers will receive an invoice with a ‘Pay Now’ button, to checkout simply and securely via card or bank transfer (ACH) using atgPay."