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Stay away from cash payments! If you are a buyer and a seller is requesting cash, it could be an indication of fraud. If you are a seller, avoid the temptation to accept cash. Should a dispute arise later, cash transactions, about how much was paid for an item, are difficult to prove.
Provide your customers with several options for making payments. Some customers will only bid on an item if they see that you accept a certain type of payment, such as Paypal, Billpoint, Check, Money Order, etc. Don't miss out on potential bids by limiting customers payment options.
Paying by credit card can protect both the buyer and the seller. Credit card payments protect the buyer because you can dispute the charges if the goods are misrepresented or never delivered. For sellers, payment by credit card is quicker than waiting for a check or money order and avoids the problem of bad checks.