Hi, I personally dropped using payment services and signed up for a free merchant account using Link hidden: Login to view so I'm uncertain as to why you're waiting for setup as it only takes around 24 hours to be setup.
Almost losing a small fortune to paypal and having issues with bidpay I needed a reliable alternative.
Setting up a real merchant account has been great and the fees are much lower than money handling services like paypal and bidpay. All the money goes right into our checking account within a few days.
It does take a day or two to get the merchant account setup but you can take Visa, MasterCard, American Express, Discover and Diners club cards. 5 Cards Versus the 2 you can take with the other services. This also increases your chances of sales.
You also get access to a free shopping cart you can link to your auctions. All the bidder has to do is enter their email address in the link you provide on the auction page and all of their winning bids come up in a shopping cart page where they can arrange payment.
If you ship using FedEx like me you can use a program called ship rush to automate your shipping so you can handle shipping quickly. And this program is free for FedEx users.
There are many things you can do as far as payment options to your bidders. You don't have to rely just on bidpay or paypal.
If you intend to do a lot of sales like 50 to 100 per month then it's best to use a real merchant account.