E-Commerce · EBay

Competing with eBay - how to get Buyer and Seller protection like on eBay for my marketplace?

Max Avroutski Building EV Charging & Electric Energy Access company

August 30th, 2013

I am working on a creating a competition for eBay and I think one of the key value propositions could be providing Buyer and Seller protection similar to eBay's.

Back in 1990's eBay had Lloyd's of London provide protection up to $200 I think, now eBay covers much larger amounts.

So, 2 questions:
1) Should I even spend my time on Buyer and Seller protection like on eBay - is it essential ?

2) Anyone know the name of the insurance product that would do that?

Or, besides having deep packets yourselves, what would be the other ways of offering partial or full Buyer/Seller protection in case ether would take money/product and run?

Thanks in advance.

Alan Peters VP Product and Technology at BusinessBlocks

August 31st, 2013

Could you just sell the insurance yourself and then pass the risk on to a reinsurance company?

Jesal Gadhia

August 31st, 2013

Checkout https://www.balancedpayments.com which provides escrow services for a marketplace at a reasonable price.

Mohammad Forouzani CEO at Forecast.net

August 31st, 2013

You could provide an escrow service - but that is very high maintenance and only really worthwhile for high pricetag products.

Mark Sendo Founder, CEO, Forbes Contributor, Conference Speaker, TechCrunch featured story twice

August 30th, 2013

What's Yiur marketplace Sent from Mark's iPhone5, please excuse misspelled words & phrases