The most popular auction service on the internet. eBay utilizes a powerful electronic platform to facilitate millions of transactions every single day. Consumers seeking to purchase goods make their bids during a specific time period and then the merchant awards/sells the items to the highest bidder. Vendors also buyers offer the option of skipping the bidding process and purchasing the product outright. Payment is typically made via PayPal.

Download the Internet Marketing Dictionary for free now. Hundreds of words defined!