What is PayPal and how does it work? - Shpock

What is PayPal and how does it work?

IMPORTANT: PayPal is currently only available in the app

Shpock has partnered with PayPal to make buying and selling even safer. PayPal is an online payment service that allows you to transfer money over the Internet in a secure way without sharing sensitive financial details. Additionally, PayPal offers protection for buyers and sellers via a dispute settlement in case something goes wrong with your transaction.

Please note: Payments with PayPal might not be available in all countries.

Advantages

  • As a seller you receive payments immediately without sharing sensitive financial details
  • As a buyer you will be covered if you don't receive an item or if the item is significantly not as described

How does it work?

  1. Prospective buyers can request to pay via PayPal when making an offer.
  2. If the seller accepts they can connect Shpock to their PayPal account or create a new PayPal account.
  3. After a deal has been confirmed, the buyer can initiate the PayPal payment to send the money directly to the seller's PayPal account. The seller can leave the money in the account to use for future PayPal transactions or transfer it to their bank account.
  4. The seller will then ship the item, with a tracked shipping method, to the address stated by the buyer and provide them with the tracking number.

How much does it cost?

For buyers, PayPal is completely free to use! For sellers, there is a small fee charged by Shpock and PayPal. You will find a detailed explanation on how the seller fee is calculated in the section on fee structure.

How can I create a PayPal account?

In case you don't have a PayPal account yet, you'll be able to create one directly in the Shpock app. This process can be initiated once you either want to receive a payment or pay for an item via PayPal for the first time.

Alternatively, you can create an account directly on the PayPal website or in the official PayPal app.

Please note: In order to create a PayPal account you must be at least 18 years old.

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