This iteration of BidPay has been recognized by eBay for only about 6 months. Here is the Wikipedia paragraph on the service:

"BidPay is an online auction payment service web site, established in 1999 by Steve Chin and Marek Bradbury that originally allowed auction buyers to purchase money orders online using their credit card. BidPay was purchased by First Data Corporation/Western Union in 2001 for an undisclosed sum. BidPay was rebranded as "Western Union Auction Payments" in 2003 which led to confusion with Western Union's wire-transfer services - popular with online fraudsters; the service reverted back to the BidPay name in 2004. BidPay ceased operations on 31 December 2005 and was purchased for USD 1.8 million in March 2006 by CyberSource Corporation, which announced its intention to relaunch BidPay. [1] BidPay had over 4 million registered users worldwide.

BidPay was a popular payment method for auction sellers based in North America because there was no chargeback or reversal risk, as there was with competing service PayPal. The buyer was responsible for all fees, and US sellers had the option of receiving an ACH payment direct into their bank account. However, when a buyer successfully made a charge back, BidPay ended up taking the loss.

BidPay was relaunched in June 2006 based on an operating model similar to that of a merchant account for auction sales. Sellers are now responsible for all fees, and must have a US-based bank account that accepts ACH payments, since money orders are no longer issued. Before approving payment, Bidpay reviews payments submitted via various fraud checks. Also sellers must now ship by a track and trace shipper and Bidpay will assume the risk of chargebacks if the seller follows all the requirements under the user agreement.

Although eBay had banned BidPay after the service closed at the end of 2005, eBay now (29-Sept-06) lists BidPay as an example of a permitted payment on its "Accepted Payments Policy" page."

The free market has spoken. IMO, PayPal is a valuable service for both buyer and seller. I'm happy to see it around, although at my level of auction activity, the business account is not appropriate. I use a personal account only and take advantage of the very favorable rate the PayPal pays on cash balances kept in my account (4.6%).