MobilBid offers an easy solution making chaotic silent auction closings a thing of the past. The MobilBid platform makes it easy for clients to use their own STRIPE account enabling instant mobile or in-person payment. The instant close feature streamlines the auction closing by automating tabulation, billing, and payment. This feature requires bidders joining the auction to submit a credit card for payment before proceeding to place a bid.
Requesting credit card information at sign-in provides advantages for both the non-profit holding the event and the bidding guests.
Today 98% of MobilBid clients have a STRIPE account.
Benefits for Auction Organizers
Speeds the Closing Process
Having a credit card on file allows for faster and smoother transaction processing at the end of the auction. With no action on their part, winning bidders’ cards are automatically charged, expediting lineups and the payment process. This process also reduces the number of volunteers.
Improves Bidder Commitment
Requiring credit card information upfront calls for a higher level of commitment from bidders. This leads to more genuine and serious bids. Individuals are more likely to consider placing a bid knowing that if it’s the highest bid, their card will be charged.
Reduces Non-payment
Requiring credit card information helps reduce instances of non-payment and bid withdrawals. Bidders are less likely to default on their bids if they know they will be automatically charged for a winning bid.
Improves Integrity
Ensuring that bidders have a credit card on file enhances the integrity of the auction process and minimizes the annoyance of fraudulent bids by providing a layer of verification for the bidders.
Building Trust
Requesting credit card information establishes trust and credibility with both bidders and non-profits. Today’s bidders have confidence in the auction platform, knowing that it is a secure and legitimate environment. In the event of a dispute or non-payment, having credit card details readily available simplifies the resolution process.
Instant Payment
When the auctions end the conventional “checkout period” becomes a thing of the past. Winning bidders are notified, and their cards processed leaving them to simply pick up their items. Event organizers can close their events in minutes, not hours while eliminating chasing down delinquent bidders for non-payment.
Benefits for Bidders
By implementing a credit card on file requirement for bidders, auction organizers create a more professional, efficient, and trustworthy auction experience for all parties involved. Here are some of the advantages for bidders when a credit card on file is required before bidding in an auction.
Top of the List
For anyone who has stood in line to receive a paper invoice and then pay, the instant checkout is a blessing as much for the participants as the organizers. Bidders benefit from an efficient, streamlined check-out process with pre-entered payment details. Every other advantage is secondary.
Trust
Today’s bidders are familiar with transactional trust and are no strangers to sharing credit card details. Who today is unfamiliar with online purchasing… requiring credit card information? Today’s public welcomes the auction STRIPE payment process secure in the knowledge their financial information is safely managed providing them with a speedy, enjoyable auction experience.
Responsible Bidding
Having credit card details on file tends to encourage responsible bidding and generally improves the level of auction etiquette.
Overall
Instant mobile closing requiring a credit card on file enhances the efficiency, trustworthiness, and convenience of the bidding process for participants while eliminating the chaos and confusion of conventional closings.
Find out more at: www.mobilbid.ca
