ToldYa Launches Portable eStores for Social Networking Sites
By Ina Steiner
ToldYa is a new service that allows users to create "online stores" on social networking sites including Facebook, MySpace, blogs and websites. According to the company, buyers shop and browse, checkout, select shipping method and pay for their item right inside the embedded eStore directly on the seller's social networking site.
Building and publishing an eStore is free, and ToldYa charges seller a 99-cent fee when an item is sold. Sellers can offer two methods of payment. Buyers located nearby may select the "Cash + Pickup" method in which they pay sellers cash when picking up the item.
Or, they may choose to use the "Credit + Delivery" method, which allows buyers to purchase items via credit card. ToldYa processes the credit card and holds onto the money until the seller ships the item. Sellers must ship via UPS and enter the tracking number into the ToldYa system. Once the item is confirmed delivered by UPS, ToldYa sends buyers and sellers an email notification.
At that point, the buyer has 48 hours to contact the seller or ToldYa if there's a problem with the item or the delivery. Once the 48 hour window has passed, ToldYa credits the seller's account the item total plus the shipping charge. Sellers can then transfer the credit from their ToldYa seller account directly into their bank account.
There is an additional credit card processing fee for the Credit + Delivery payment method.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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