Privately held NoBidding has launched an online auction site designed exclusively for users of Internet-based person-to-person payments system PayPal.
NoBidding says AuXpal will be the first online auction to offer automated payments for winning items by instantly processing payment transactions.
At the end of each successful auction, funds are transferred from the winning bidder to the seller using PayPal's e-mail-based funds transfer system. The payment arrives in the seller's PayPal account within minutes and requires no interaction between the buyer and seller, says the company, eliminating the time-consuming effort of online form-filling.
"The auction engine's seamless integration with PayPal offers ease of use that sets a new industry standard," says Jennifer Larsen, vice president and co-founder of AuXpal. "PayPal redefined person-to-person payment and AuXpal will revolutionise online auctions. This is the first innovative approach since eBay itself."
PayPal currently claims more than 4.2 million users worldwide.