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All our plans include the following:
Find answers to all your questions in our Help Center or get help from our team if you have technical questions along the way.
Ready to launch plan:
The Stripe platform enables you to process payments. When the auction is over, invoices are generated and sent automatically to the winners and donors. They can then pay by credit card directly on the platform.
Tailored launch plan:
You will need to make your auction payment online during your registration process with a member of our team.
To learn more about payment processing, see the question "What is Stripe, and how does a payment processor work?"
Note that the Followmybid platform has a feature that allows participants to pay transaction fees.
You will have to:
The good news is that you have all the tools to make your job quick and easy!
It depends on the plan you choose:
If you choose the Ready to launch plan, there is no membership or upfront fees, but the cost per transaction is 8% + $0.30. The cost per transaction collected by Followmybid is 5.1% for using the platform and 2.9% + $0.30 collected by Stripe, our payment processor. Please note that the cost per transaction may vary depending on the credit card of the participants and the type of the organization that receives the funds raised during the auction.
If you choose the Tailored launch plan, the plan starts at $350. The only expense related to your auction is the amount decided upon with our team*.
*However, if you use Stripe, a payment processor, this provider applies a per-transaction fee.
With the Tailored launch plan, you will be able to manage the payments outside the Followmybid platform if you are not using the integrated solution of the payment processor Stripe. Each participant who wins an item will receive an invoice automatically. Furthermore, you will receive a detailed list of all the invoices issued to your auction participants. It will then be possible to reconcile these invoices with the payments received.
A payment processor is a service that allows you to manage, make and settle payments and purchases online.
To facilitate the payment management process, Followmybid decided to go with the solutions offered by the payment processor Stripe.
If you use Stripe with Followmybid, this payment processor offers the following solutions:
A provider that offers online payment solutions handles card transactions between a buyer (user or customer) and a vendor (company offering products or services).
The payment processor simultaneously and securely connects to the vendor's account and the payment gateway to exchange transaction information. Once the transaction information is processed and validated, the processor deposits the funds into the seller's or buyer's account, depending on the services or products offered. The processor's role also includes confirming the transaction's success or failure.
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