Grailed processes all transactions through PayPal for Marketplaces, a new payment system from PayPal built specifically for handling transactions on marketplaces like Grailed. We have partnered directly with PayPal to use this new system and gain the many benefits it provides to our community marketplace.
Some benefits of the new system are immediate, and you'll see as soon as you start selling!
Improved Security for Sellers
- This new payment system gives us insight into any cases or disputes that a buyer has opened, including the reasons and current statuses of those claims.
- The upgraded system also allows us to halt a buyer’s payment from processing before it gets to the seller if we deem that buyer to be suspicious or potentially fraudulent.
- The increased transparency over claims and new ability to halt payments combine to significantly improve our ability to fight chargeback & credit card fraud and protect our sellers, both new and old.
- An easier checkout experience for buyers on mobile.
- A much better interface for managing sales, making it much easier to do things like search for transactions and attach shipping information.
Payment & Fee Transparency
- All transactions now have their fees outlined in a single location so that you can clearly see Grailed Fees, PayPal Fees, and your own profit in one place.
Other benefits of the new system are coming soon!
- When you accept a buyer's offer right now, they can decide whether or not they want to actually purchase. A Binding Offer would immediately send the money when you approve a buyer's offer, rather than waiting for the buyer to decide if they want to purchase or not.
- This feature is actively being developed and will be fully supported by the new PayPal for Marketplaces.
- This new system will allow potential buyers to pay for your items through PayPal Credit during the checkout flow leading to increased sales.
Increased Integration with PayPal
- By using this new payments system, we will be able to provide our community with the most up to date feature development PayPal makes available.