It requires a little work to setup up. Took me most of a day to fully figure it out.
My advice is to make sure you have detailed instructions to your bidders on how to make payments with the merchant account and put more then 1 payment link in your auction. Also put up a banner showing the 5 credit cards you will be able to accept so buyer know that since you dont take paypal they can pay by credit card.
Out of close to 1000 transactions I have only had 3 people back out because we did not accept paypal. So the convenience factor of paypal holds little merrit like they claim.