Site Help
Topic: Selling Topics
Direct Checkout: Questions and Answers
Bonanza allows sellers to accept credit and debit cards directly from customers at checkout, the service is called "Direct Checkout." Sellers can enable this payment method on the Selling > Booth settings > Payments & purchases page.
Requirements
In order to be able to offer your buyers this direct checkout option, you must:
- Have an active merchant account
- Accept an alternative payment method
- Agree to the Direct Checkout Terms of Service
Limitations
At this time, we can only offer this service to sellers whose business and bank accounts are based in the United States. Sellers must have a minimum of 10 positive feedbacks on Bonanza transactions prior to becoming eligible for the Direct Checkout feature.
FAQ
Why would I want to enable Direct Checkout in my booth?
Sellers on other marketplaces who have direct checkout enabled have observed:
- On average, buyers spend $2.50 more on items bought through direct checkout compared with other payment methods, and they spend $4.50 more per order when they can choose between direct checkout and Paypal.
- On average, shops with direct checkout sold 19.3% more than shops without direct checkout.
- When the item could be bought with direct checkout, shoppers were 16.3% more likely to complete the checkout process and actually buy.
Google it, for it is true!
How do I enable Direct Checkout?
You must enable this payment method on the Selling > Booth settings > Payments & purchases page.
What is a Booth Payment Account?
Your Booth Payment Account contains information about your business and bank account so that we can safely and securely accept payment from your customers at checkout, and then directly deposit those funds into your bank account.
How do I sign up for a Booth Payment Account?
Log in to your Bonanza account, then visit the Selling > Booth settings > Payments & purchases page where you'll find a link to "Apply for a Booth Payment Account" once you have selected the option to accept credit card payments and your booth has become eligible.
Why do I have to include my Social Security Number when registering for a Booth Payment Account?
For most sellers, entering your Social Security Number is optional, but providing it will speed up the approval process.
Additionally, if you accept over 200 credit card payments, or bring in over $20,000 USD in gross sales volume per year via direct checkout, either your SSN or a tax ID for your business will be required to receive a 1099-K form.
How long before my Booth Payment Account is activated?
The approval process may take anywhere from a few seconds to a few minutes. Please be patient while your application is processed. We will email you once your application has been approved or declined.
What are the fees for using Direct Checkout?
The service fee for credit card sales is 3% + $0.30 per transaction.
How long before funds from completed purchases are transfered to my bank account?
It varies depending on your history with Bonanza, whether you provide a tracking number, and many other factors. In most cases, funds are transferred 5-10 days after a purchase is complete, but you can read much more detail about how and when money is transferred in our Direct Checkout Terms of Service (see sections 4 and 5).
How do I refund a purchase made with a credit or debit card?
Visit your Booth Payment Account overview page to see the status of all credit or debit card transactions and to issue refunds. A link to this page can be found on your Selling > Booth Settings > Payments & purchases page. Click on the link next to your credit card payment option to view your Booth Payment Account overview.
It's important to note that canceling an offer does not automatically refund a credit card transaction if one has already successfully completed. Likewise, issuing a refund neither cancels an order nor relists items from that order. You can manage your orders from your "Selling" page.
How do I change my bank account information?
Visit your Booth Payment Account overview page, and click the "Edit account details" link beneath account status box.
Why must I offer an additional payment method like PayPal or Amazon Payments?
We implement an assortment of proprietary tools to ensure that fraudulent buyers do not purchase items via Direct Checkout. In situations where our fraud detection algorithm decides not to offer Direct Checkout to a buyer, we will send that buyer to Paypal or Amazon Payments for them to vet the buyer in more depth.
