The Guide To Current Penny Auction Sites

Jul 31, 2014

Penny auction sites have not managed to recover from their downward spiral in 2011

Big name companies started leaving the scene, as well as a few scams that ripped off consumers, making them cautious of the penny auction scene.

However, this is great news for those people who still use the sites, there is reduced competition meaning better results and less money spent. If you were thinking of taking up this concept as a business opportunity, there is more work in running a penny auction site than you could imagine; it is hard work and you will need to have access to a penny auction merchant account so you are able to take a number of different payment options from your customers.

Awesome Sites!

There are great sites that offer the same penny auctions that have lasted against the odds after the crash in popularity.

Quibids this is the largest penny auction site currently available. What makes this auction site different is the shop that has opened. It allows customers to purchase items straight away, no auction and no stress in bidding for items.

Beezid the success of this penny auction site is in the advertising, not the only penny auction site that has advertising on television, but one that works; many other penny auction sites have found this concept difficult to master.

HappybidDay this feels different to the other sites and while it still runs auctions, there is the possibility to earn bids too.

Pennygrab openly admits their rules are more complicated than other penny auctions, but they claim you will have the most fun on their site.

Dealdash has the largest amount of active bids, but bidding doesn’t occur until the final 10 seconds making this a very quick auction.

Great Deals!

There are deals using the penny auction sites, but people are being more cautious regarding the sites they log on to, because it is possible to defraud people with the pretence of sending out the goods and running a penny auction site or imposing impossibly high delivery charges.

Going into business in the penny auction market is an option. It has the potential of making money, but the popularity has decreased and making good return on money invested will require a lot of hard work and determination.

If you’re in the market for a penny auction merchant account, fill out that quick form below today.

start

 

Let us help you get a penny auction merchant account today!

Get Started

Award winning.

  • 2012
  • 2013
  • 2014
  • 2015
  • 2016

Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

Live Chat