Depop Payments is revolutionizing the way you buy and sell items on the popular Depop platform.
Powered by Stripe Connect, this new payment method aims to make transactions easier and more convenient for both buyers and sellers.
With Depop Payments, you can enjoy the flexibility of using Apple Pay, Google Pay, credit/debit cards, and even PayPal, making purchases hassle-free and efficient.
Setting up Depop Payments is simple.
Just head to the Selling hub, tap the Depop Payments banner, and follow the provided steps.
You’ll need to input your personal information, such as full name, date of birth, phone number, and address, along with your bank account details to receive direct payments.
It’s quick and easy, allowing you to focus more on finding those perfect items for resale.
Not only is Depop Payments user-friendly, but it also offers competitive transaction fees, making it an attractive option for sellers.
With fees set at 2.9% + $0.30 per transaction, sellers can experience potential savings compared to PayPal’s 3.49% + $0.49 fees—a win-win situation for both you and the buyer.
- 1 Understanding Depop Payments
- 2 Setting Up Depop Payments
- 3 Using Depop Payments as a Seller
- 4 Using Depop Payments as a Buyer
- 5 Depop Payments Updates and Support
- 6 Conclusion
Understanding Depop Payments
Depop Payments Overview
Depop Payments is a feature designed to make the buying and selling process on the Depop platform easier and more convenient for you.
With this payment system, you can offer various payment options to potential buyers, such as Apple Pay, Google Pay, credit/debit cards, and PayPal.
By providing more payment options, you can increase your chances of making a sale and receiving payments directly into your bank account.
Depop Payments is now a requirement, and once you’ve signed up, you won’t be able to turn it off.
This system offers you the same level of protection as PayPal, ensuring that your transactions are secure and reliable.
Stripe Connect and Payment Processing
Depop Payments is powered by Stripe Connect, a reputable payment processing platform that many businesses use to handle online transactions.
With Stripe Connect, you can:
- Experience a seamless integration with the Depop platform
- Have your funds securely transferred to your bank account
- Benefit from fraud prevention and detection measures
When a buyer makes a purchase on Depop using Depop Payments, Stripe Connect processes the payment smoothly and quickly.
As a seller, you don’t have to worry about handling the payment details yourself.
Stripe Connect takes care of that for you while ensuring a secure and efficient transaction.
Setting Up Depop Payments
To set up Depop Payments, first you need to sign up by heading to the Selling hub in the app, and tapping the Depop Payments banner.
Make sure to provide your full name, date of birth, phone number, and address to verify your account.
Remember, you must be over 18 to have a Stripe account.
If you are under 18, you can use a parent or guardian’s ID instead.
Adding Bank Account Details
Once your account is verified, it’s time to add your bank account details.
You’ll need to enter your bank account number and sort code in order to receive payments directly into your bank account.
- Step 1: Tap on the ‘Get your money’ red banner on your profile
- Step 2: Add your bank account number and sort code
- Step 3: Confirm your details
Linking Email Address
Finally, connect your verified PayPal account to your Depop account by following these steps:
- Head to your profile and select “Settings”
- Go to “Payments & Shipping” > “Connect PayPal”
- Enter your email address associated with your PayPal account
Once connected, you’ll be able to receive payments directly through the app.
Make sure your email address is accurate and up-to-date to avoid any issues with receiving payments.
Using Depop Payments as a Seller
Managing Sales and Transactions
As a seller, you’ll find that Depop Payments allows you to easily manage sales and transactions.
You can see all of your sales directly in the app, and the platform lets you offer refunds without the need to leave the app.
This streamlined process offers a more efficient way of handling your sales and ensuring buyer satisfaction.
Shipping and Handling
Shipping plays an important role in your Depop selling experience.
Prompt shipping and handling not only ensure smooth transactions but also help you maintain a good reputation on the platform.
With Depop Payments, you’ll be able to sell safely under Depop’s Seller Protection Policy, ensuring that your transactions are safe and seamless while shipping your items as soon as the sale goes through.
Seller Protection Policy
Depop Payments offers a Seller Protection Policy to safeguard you from potential scams and fraudulent activities.
This policy is powered by Stripe Connect and provides you with the same level of protection as PayPal.
By following guidelines and adhering to terms and conditions, you can have peace of mind knowing that your transactions are secure.
Fees and Payouts
When using Depop Payments, it’s essential to be aware of the fees associated with each transaction.
While setting up Depop Payments is free, other associated fees may apply, such as listing and selling fees.
Payouts are directly made to your bank account, and you can view your Depop Balance and any scheduled payout details within the app.
It’s crucial to stay on top of your expenses in order to maximize your profits as a seller.
Utilizing Depop Payments as a seller can streamline your sales process while ensuring security and ease of use.
By managing sales and transactions efficiently and taking advantage of the Seller Protection Policy, you can focus on growing your business and reaching new buyers on the Depop platform.
Using Depop Payments as a Buyer
Available Payment Methods
As a buyer, Depop Payments offers you a variety of payment methods to choose from.
These options make shopping more convenient and accessible to you, which include:
- Apple Pay: A convenient and secure way to pay using your Apple devices.
- Google Pay: Google’s payment solution that allows you to pay with your Android device.
- PayPal: A widely used online payment method, offering buyer protection in case of a problem.
- Credit and Debit Cards: All major credit and debit cards are accepted.
When it’s time to complete your purchase, you’ll find the checkout process to be simple and user-friendly.
Here’s a quick overview of the steps:
- Add the desired item(s) to your shopping cart.
- Proceed to checkout by tapping the cart icon.
- Choose your preferred payment method.
- Enter your payment details, shipping address, and any coupon codes or discounts.
- Confirm your order and make the payment.
- Once the payment is successful, you’ll receive a confirmation email and your item(s) will be shipped out.
Depop will handle the payment process securely, ensuring your payment details remain safe.
Dealing with Refunds
In the event that you need a refund, Depop Payments has your back.
When you request a refund, consider the following steps:
- Reach out to the seller and communicate your concerns.
- If the seller agrees to issue a refund, they will process it through the Depop app.
- Once the refund is processed, you’ll receive a confirmation email.
- Depending on your original payment method, refunds may take a few days to appear in your account.
Communication is key to resolving any issues.
Always be respectful and patient when dealing with sellers during the refund process.
Depop Payments Updates and Support
Recent and Upcoming Changes
In order to improve the overall experience for both buyers and sellers on Depop, Depop Payments have become a requirement for eligible sellers.
This update aims to empower sellers by increasing their chances of selling items, giving buyers more ways to pay, and potentially attracting more customers.
Depop Payments supports a variety of payment options, including Apple Pay, Google Pay, credit and debit cards, as well as PayPal.
This allows for greater convenience for buyers while offering sellers the potential for increased sales.
The processing times for Depop Payments may be slightly longer compared to before this update; however, keep in mind that you will now be receiving payments directly into your bank account.
Regarding fees, Depop takes a 10% fee on the total sale price (including shipping costs) for each transaction.
This fee is used to help support the platform, ensuring a smooth and efficient experience for all users.
To take full advantage of the benefits of Depop Payments, make sure to set it up on your account by following these steps:
- Head to your profile and select “Settings”.
- Navigate to “Payments & Shipping”.
- Choose “Connect PayPal”.
Depop Help Centre
If you encounter any issues with Depop Payments, require further assistance, or have any questions, don’t worry.
The Depop Help Centre is available to provide guidance and support.
Simply login to your account and head over to the Help Centre where you will find resources and answers to various queries.
Depop Payments is designed to enhance your experience as a seller on the platform.
Make use of the multiple payment options, stay informed about changes and updates, and don’t hesitate to reach out to the Depop Help Centre for any additional help you may need.