BidPay.com Is Going Out of Business
Yet another dot Com business bites the dust. BidPay.com is going out of business on Dec. 31st 2007. I kind of hate to see them go. I was a member of BidPay and would frequently use them in the early 2000’s as an alternative to PayPal.com back when I sold computers on eBay. Here is a copy of the email that got sent to me.
Effective December 31, 2007, BidPay.com, Inc. will be discontinuing operations. We regret any inconvenience to our users and thank you for your patronage over the years. Please note the following important details about the shutdown. Please plan accordingly.
Effective IMMEDIATELY, BidPay will no longer accept new BidPay account registrations.
Effective IMMEDIATELY, banner insertions for new auctions will be disabled. That means that any attempts to add “BidPay†as a payment option in auctions will not be effective. Accordingly, you should offer alternative forms of payment.
Effective 5:00 P.M. PST, December 25, 2007, BidPay will cease accepting payments.
From January 1, 2008 through 11:59 P.M. PST, January 31, 2008, registered users will have read-only access to their BidPay account information.
Customer support services will be available through January 31, 2008 by contacting support@bidpay.com.
What a crazy dot Com world we live in. I am beginning to wonder if we are about to hit yet another dot Com depression just like what happened back a few years ago? So, what is your opinion about BidPay.com going out of business? If you were a member, what was your level of satisfaction with the business? What is your take on why BidBay.com didn’t find success? Can we, as bloggers, learn from this?
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8 comments
Yeah I’ve wondered that myself. It seems like with the whole “social media” boom that its shaping up like a 2nd dotcom burst. Like with Google buying Youtube (and losing boatloads) and News Corp buying Myspace. To me it’s like these companies are doing the same thing all over again, theyre trying to get in on the ground floor for the next big thing. But Google way overvalued Youtube and pays more in hosting than they make in ads or other streams of revenue. So whats the purpose? Only for branding and increasing your market share. Otherwise it’s a pretty foolish investment.
i dont know if we’re on the heels of another dot-com depressions, or just seeing the “Walmartization” of the web – where only the giants like Google, eBay/PayPal and Microsoft rule everything.. But mostly Google..
well I have to respect bidpay for being open about shutting down. I had dealt with the implosion of RegisterFly domain registration and Sunrocket voip which just shut down without any notice or communication at all. I’m concerned though about paypal seeming to become a monopoly, just as I am with ebay on the auction side and owning paypal.
A lot of sites seems to be going out of business too and it is sad, I was recently affected by Zookoda.com closing and I am in the process or rebuilding a 500+ email list
This is again a bad news. BidPay was a good solution to make payment online instead paypal.
Not easy.
yes it is a shame bidpay went out of business !!!! paypal sucks and there needs to be another option for ebay payments !!!! paypal locked up my account with $18000.00 i could only refund my customers money back to them !!!! bidpay was the next best thing does anyone have any one know of any other good payment companys out there ?
In its latest incarnation BidPay was like a dream come true. the price was more than reasonable, my customers were adjusting to it with little or no problem and the electronics fund transfers werefaster i than i expected. at first it took a short transition to ween my customers away from paypal, but once they tried it they liked it. i was happy to pay the fee. anything to see paypal sweat a little. I for one will really miss them. i am just waiting for the day Ebay makes paypal mandatory. i hope it is later than sooner.
Well, eBay is heavily pushing PayPal. And PayPal is VERY heavily pushing their OWN credit card (Monopoly anyone?….Heeelllooooo US Govt!!!! )
So I’ve gone to Google Checkout. Might as well choose a monster size company that at least allows me to choose my own bank!
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