Brendan Candon Q&A On Marketplace Refunds

8 Dec 2023 · 2 min

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This content was created by Max Brun. This content was uploaded by Max Brun. This is a YouTube Q&A video titled "Brendan Candon Q&A On Marketplace Refunds" (uploaded 2023-12-08). The excerpt is a short interview-style exchange between at least two speakers (an interviewer and a respondent) discussing the platform's transaction and refund flow: buyer guarantee, holding funds until items are received and approved, provided shipping labels, a three-day buyer review period, dispute-team handling, and refund mechanics (typically back to the buyer's card, sometimes after return). The clip focuses on marketplace trust and payment-release policies.

Chapters

One of my questions was, can you talk through kind of like the transaction flow when it comes to how you think about refunding on the platform if cases like that arise and how that has evolved over time?
Yeah, so we offer a buyer guarantee. We, buyers pay upfront, we hold the funds, they show up in the account for the seller, but you can't actually cash them out until The item has been received in as advertised condition. So the we provide shipping labels, or you have to link. You know, you can provide your own, but for a long time it was only labels we provided, which allows us to track the shipments. We know the item gets delivered. Buyers have three days to review the product, or they can approve it right away. So. The seller will get paid upon approval or 3 days. So if the buyer just like never does anything, the funds will get released. We assume that's a successful sale. If there's a dispute or the item never arrives, we, you know, the buyer gets refunded. We have a dispute team that kind of looks, reviews everything. It's actually a pretty small number of cases where disputes arise, but Buyer guarantees and security are extremely important. And so, yeah, we try to obviously balance the seller and buyer considerations in it, but we control the funds until we have, we are confident that the transaction's gotten to a point where buyer and seller are happy. And at that point, the seller gets paid. If we reroute the funds to the The buyer and there's a refund, you know, usually just goes back to their card. There are cases where they have to return the shipment first and we hold the payment longer. But yeah, that's like the basic mechanics of it. That buyer guarantee is definitely like core to our platform.