South Korean firm sets up new RP auction site
By Alexander Villafania -- INQ7.net
SOUTH Korean auction site operator Internet Auction Co (IAC) is hoping to tap into the growing online auction business in the Philippines by opening an auction site in Philippines.
The new auction site, Auction.ph, competes with local auction sites Bidshot.com and Ebay.ph and operates out of Clark Field, Pampanga.
It currently has 200 sellers, IAC said.
In an interview, Auction.ph marketing manager Rea Marie Mutuc said the site uses the Megalink Automated Teller Machine (ATM) network as a payment system. Payment systems for credit cards and the Bancnet ATM network are also being developed, she said.
A mobile phone bidding and transaction system is expected to be introduced by October, Mutuc added.
Auction.ph first places the payment for an item sold or bid in an escrow account.
When a customer is satisfied with an item, the amount is released to the seller. If the buyer decides to return the item, the money in the escrow account is returned to him, Mutuc said.
"This is one [way] where we ensure that the buyer and seller are satisfied with the transaction," Mutuc said
SOUTH Korean auction site operator Internet Auction Co (IAC) is hoping to tap into the growing online auction business in the Philippines by opening an auction site in Philippines.
The new auction site, Auction.ph, competes with local auction sites Bidshot.com and Ebay.ph and operates out of Clark Field, Pampanga.
It currently has 200 sellers, IAC said.
In an interview, Auction.ph marketing manager Rea Marie Mutuc said the site uses the Megalink Automated Teller Machine (ATM) network as a payment system. Payment systems for credit cards and the Bancnet ATM network are also being developed, she said.
A mobile phone bidding and transaction system is expected to be introduced by October, Mutuc added.
Auction.ph first places the payment for an item sold or bid in an escrow account.
When a customer is satisfied with an item, the amount is released to the seller. If the buyer decides to return the item, the money in the escrow account is returned to him, Mutuc said.
"This is one [way] where we ensure that the buyer and seller are satisfied with the transaction," Mutuc said
posted by OlongapoCity Zambales at
7:28 AM
0 Comments:
Post a Comment
<< Home