Non-Paying Buyers Be Gone!

Non-Payng Buyers have long been an issue on traditional auction sites.   However, on LoobaLee, while you can list items for sale similar to the “buy now” feature on an auction site, a buyers checkout process is handled more like a retail site than an auction site.   We like to say, pardon the pun, that we offer “the best of both worlds” — a perfect cross between an auction site and a retail site.Although Bonanzle has defined a whole new ‘language’ for an on-line marketplace, spiffed things up a bit with some funky features, and is significantly more personable than eBay — at it’s core, it is still a traditional consumer-to-consumer marketplace where Sellers are ultimately on their own when it comes to waiting for and getting payment from Buyers.

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How are we different? On LoobaLee, an order is not created until the Buyer pays.   There is no way for someone to “commit to buy” and pay later.  A buyer checks out just like on a retail site, but if they change their mind and abandon checkout, their selected items will remain in their cart exclusively “on hold” for up to 3 hours.  If they do complete their purchase, an order is created and the seller is notified.  Sellers always know that when they receive an order, that payment has been completed and it is safe to package up and ship their item(s).

We think this is one of the best reasons to both Buy and Sell on LoobaLee.  As a Buyer, since you can hold things in your cart for up to three hours, there is no need toke a pressured purchase.   And for Sellers, well…knowing payment has already occurred when you are notified of the order is ‘priceless’.
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