[Blog Start - Software Channels]

Handling money is one of the most important aspects with digital goods. Over the years we have implemented many cool features for sellers of downloads. Yet, accepting payments that enable artists, musicians, writers or photographers to sell a file for less than 2 or 3 dollars AND getting enough cash their way was only possible with the Paypal micropayment rates.

By partnering with one of Europe’s largest credit card processors, we are now able to directly charge credit cards AND pay out to credit cards, if requested by the sellers.

So, this blog posting covers 2 aspects:

a) SELLING via credit card

We are flipping the switch for all downloads on tradebit within the next 24 hrs. Martin has finished all tests and we are officially taking credit cards directly, process the payments and provide the downloads for it.

Security measures with our credit card partners are tight – we will NOT store any credit card infos on tradebit servers. All cards are directly pushed to the banking systems to provide maximum security for consumers.

b) PAY OUT to credit cards OR paypal

The pay out cycle is changing by tomorrow: We will still pay out every Wednesday. The pay out will cover

1. All revenue created by Paypal, Google checkout or Direct debit (in Europe) in the week Mon – Sun before that Wednesday.
2. All revenue created by direct credit card payments in the week ending 10 days before that Wednesday.

Means: if a consumer bought a download from you on a Sunday, you will get that revenue on the Wednesday 10 days later.

That delay also appears for payments you received via Paypal, if you get paid via Credit cards and the cycle basically looks like:

So, if you choose to be paid via credit card, the payout cycle gets delayed by 1 week for all revenue generated.

This also accounts for all affiliate payments.

This entry was posted on Tuesday, August 24th, 2010 at 11:09 am and is filed under File Hosting. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.