MLM Penny Auction News: BidiFy Gets Rid Of Mandatory Account & Bidsson Auctions Attracts 100K Customers

Frode Jorgensen CCO of BidiFy has been watching what my reports, and is continuing to keep me posted on the changes he and his team feel is important in staying compliance not just in the USA, but also around the world. This new report on BidiFy and the Bidsson Penny Auction truly shows some positive improvements. I will be sending Frode some questions which people are still wondering about this week, so be watching for an update soon.

BidiFy Frequent Sale Credit replaces old BidiFy Mandatory Sales Account

BidiFy Sales Credit Account

On top of the already powerful rewards system Bidify has put in place, Bidify rewards you Frequent Sales Credit everytime a sale takes place in your organization. In fact every time a sale takes place in your pay-line we reward you with a 20% Frequent Sale Credit. Frequent Sale Credits cannot be withdrawn as cash, but can instead be used to purchase products both in Bidify & Bidsson. It is similar to a “Frequent Flyer” program.

You can spend your Frequent Sale Credits in multiple ways with a single click of a button.

– Purchasing Retail Bids to bid at auctions.
– Paying for your won auctions.
– Buying products at retail price directly from the Bidsson site.
– Paying for your monthly administrative fee in Bidify.

NOTE: Frequent Sale Credits used to purchase Retail Products will generate PV and GV, and can also generate retail bonus to your sponsor. Frequent Sale Credits cannot be exchanged to cash.

First premium Bidsson Auction bring both revenues to the penny auction house, and big wins for the bidder.

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21 thoughts on “MLM Penny Auction News: BidiFy Gets Rid Of Mandatory Account & Bidsson Auctions Attracts 100K Customers”

  1. Hi I must say, BIDIFY is a great home based opertunity that sure seems to pay good money for litle effort.

    I can just say that my "bankroll" bouns points have grown over 70% on 43 days in the program. I havent used more then 30 min, there is nice ways to buy the customers you need to get kvalified for the bonus if your like me that don't want to get other people under you. But thats also easy when you can give away free bids to people so they can try this site out. they dont need to cash in or anything.

    If you need information or just want to join the biggest Bidify team in Sweden and Norway, just kontakt me. john.hjalm@gmail.com.

    We can fix you up with total of 50 free bids. And we tell you everything about this, not just "this is easy, its no costs so on…"

    I have talked to so much people in this system, that serioulsy dont even know how it works, or how easy things can be done.

  2. Thank you sir. I was hoping Faith could shed some light on this as a founder. I am eager to hear what Frode says as this is an issue that is keeping me from joining.

  3. Here's an idea that might save time. Talk to Kevin Thompson and find out from the horse's mouth. Obviously, you trust his judgement and advice since he is your attorney, then we can put all of this bed once and for all instead of guesses and speculation.

  4. @Joshua,

    I am already looking into the presentation to see if it was the old one or a new one and then talking with Frode. If the only changes are in the wording, we will report again.

  5. Faith: So what you're saying is that nothing has changed? The mandatory account still exists they just changed the name with fancy wordsmithing. Everything is the same as before: if you repurchase bids with your daily leadership bonus there is no percentage taken but if you want to withdraw your daily leadership bonus as cash 20% is still taken. If this is the case then Troy your posting of this is pointless because the mandatory account exists exactly as before it just has now been dubbed the "frequent sales credit".

  6. They have incorporated Bidify, LLC in Delaware USA

    Faith Sloan
    http://jjsgangbidify.com +1 800 670 3202

  7. There is no conflict.

    Rewards are cash earnings and sales in your downline are cash earnings.

    But they can indeed provide more clarity. I'll bring that up with the management team.

    If you continue to re-purchase sample bids from your daily earnings to be distributed to their large customer base, 20% is NOT taken from that component.

    Thank you

    Faith Sloan
    http://jjsgangbidify.com +1 800 670 3202

  8. Bidify is as complicated as football is to someone who knows nothing about football. Actually no… It is much simpler.

    If you know nothing about something and make an attempt to learn about it, then the complexity is eliminated.

    I recommend that anyone who wants to know anything and everything about Bidify to go to http://jjsgangbidify.com

    If you are still puzzled, then I want to recommend that you talk to someone in the know.

    Shucks! I know the compensation plan like the back of my hand and am also close to the elbows of the management team and am VERY excited re: what the future holds for Bidify.

    If you are not there yet and have a healthy dose of skepticism, then just sit back and watch. It'll be around for time to come

    Faith Sloan

    Bidify Founder Member
    http://faithsloan.com

  9. I'm with zeekrewards and Bidify…Any new startup biz will hit lots of critism untill they make the necessary ajustments….I'm very happy with both and looking forward to a lucrative future!! 🙂

  10. @Moddy,

    According to their legal counsel, Kevin Thompson, they are compliant in the USA. And from all I have seen I would agree with him.

  11. @John,

    Thank you for this info. I will go review the presentation. If it does look like there has only been some new plaster put over the cracks in the foundation, I will talk to Frode about this situation.

    Living An Epic Adventure,
    Troy

  12. Hi Troy,

    there are two informationtions concerning Frequent Sale Credits:

    1. the information you can find on bidify website state that "every time a sale takes place in your pay-line we REWARD you with a 20% FSCFrequent Sale Credit."

    2. Information in the Business Presentation state that "20% of all rewards earned in Bidify are allocated as Frequent Sale Credit."

    and the info #2 take place in the system, everything works like it was in the Mandatory account, Bidify “taking” 2o% of the affiliates “earning” and put it into FSC.

    So, informations on the website and in the presentation can be confusing.

  13. I'm not trying to be smug, but while people have been on the fence about penny auctions, I have made thousands of dollars with ZeekRewards the past year. I've read all the criticism for months, while they have paid me significant amounts of money and I've brought them over 400 customers, many who have responded to my ads one or two at a time. I don't have a crystal ball and I don't know what the next day holds as they try to meet the challenges they're facing, but it has been a great run so far.

    I don't understand what anyone is waiting to see with Bidify at this stage, in terms of starting with them. I've followed their evolution as a Founder member right from the start because of the momentum in this niche market. They have been more deliberate and strategic, in my opinion, than Zeek. That's not a criticism of the latter, but the wisdom of a company taking an idea that "accidentally" became enormous, and refining it to go to another level. When I saw that, and have seen what momentum has done for me in ZR, the risk/reward ratio became clearly worth taking a shot again. I'm already very happy at what's happening with Bidify and the daily activity being experienced. I don't know how long this niche will be hot, but some opportunities are worth taking a calculated shot at while the wave is moving.

  14. @Phil,

    From a Tax standpoint, the income should be shown as 1099 Misc. Income from a foreign source, if the international parent company is used for the accounting. But, it is my understanding that all US Affiliates income will be processed through the US based subsidiarity.

    And, ALL income should include the 20% credit also, if it is more than $600.00.

    I will double check on their accounting process.

    Living An Epic Adventure,
    Troy

  15. This is very interesting indeed.

    Troy I am also curious how at tax time these aernings will be processed. Is it 1099 income for USA affiliates? Would it be on the the whole amount awarded as seen in other business models? If so is it written off in the same way or differently as affiliates are using the bids themselves in PV.

    I still am learning so i may be way off. I have yet to recieve an answer back from bidify, maybe you can shed some light.

    Troy keep up the great work I and many others look to you for the straight answers…..

  16. @Shay,

    Thanks for taking time to comment and ask the questions.

    1. Who said Kevin Thompson signed off on anything? Many times clients do not see the full value in their legal and compliance team until 3rd parties raise questions. Burn Lounge didn't listen to Kevin Grimes and we see how that worked out for them. 🙂 I am glad to see BidiFy did see some value in making the changes, and knowing Kevin Thompson as I do, I would take a calculated guess he had already raised concerns.

    2. In the Mandatory account, they were "taking" 2o% of the affiliates "earning". Now they are "giving" a 20% "credit" to the affiliates. Since historical stats show that the majority of loyalty programs, are used by a minority of those who qualify, I see this as a win, win. The company is providing a solid loyalty program, to help keep attrition low, while the affiliate win, by gaining a loyalty program that ruly can save them money in their business each month.

    BidiFy and Bidsson are a little more complicated, due in part because of the conversion between Dollars and Euros. But once folks get that all down, or the company moves to use Dollars, at least for the USA, then things should get rolling. DubLi was smart and made sites for each of their main demographic groups, so each site was in the right language and currency, maby the other unique bid auctions will make the same move.

    I will be sharing more as it rolls in 🙂

    Living An Epic Adventure,
    Troy

  17. Hi Troy. Very informative video this one is. I have a question or two though.

    First one is why did Kevin Thompson sign off on this Mandatory account deal to begin with? Maybe they should hire you for compliance instead. *laugh*

    My other question is did they really get rid of the "Mandatory" or simply rename it? 20% is a huge chunk to be forced to use within the company out of your commissions.

    I'm on the fence on this one as it is a pretty complicated set up for the average person to quickly understand. Been to a couple of webinars and you wouldn't believe how many people are there simply asking questions about how x or y works.

    Keep up the good work and *please* give us more information soon about the new companies launching with the same penny auction business model. I'm definitely interested.

    Shay

  18. This is a wonderful overview of the exciting things happening in Bidify/Bidsson right now and I believe it will only get better! http://www.bidifyfounders.com

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