Monday, October 11, 2010
Penny auctions accounts frozen by PayPal
There are plenty of penny auctions appearing on the Web lately due to the global recession, especially here in the USA. They are gaining momentum as more people are losing their jobs and hoping to win some items really cheap. However, there is a speed bump to many PA sites when it comes to opening up a merchant account from PayPal. Seems that PayPal doesn't like the concept of penny auctions, so they try to make things more difficult in acquiring your merchant account. Some go to other payment gateways while some go through the process of getting PayPal. I'm not sure which is correct, but most PA sites are booming due to great success in troubled times.