Today we introduced a new initiative we think will make you even more confident to shop on Trade Me.
It’s called Buyer Protection and basically it’s there to help refund the transaction if you buy something on Trade Me Marketplace, using our card payment system, and it doesn’t turn up or it isn’t as it was described in the listing.
You’ll know listings are eligible when you see the Buyer Protection logo onsite.
It’s all about giving you as much confidence as we can when you shop on Trade Me. It’s rare for anything to go wrong with a trade but we want to make it as easy as possible for you if you do hit a snag.
For more information check out the Buyer Protection page and check out the release we sent to media today.
Trade Me ‘has got your back’ with Buyer Protection
Trade Me announced Buyer Protection today for consumers trading new and used goods across its popular marketplace.
Trade Me’s Head of Marketplace Stuart McLean said Buyer Protection was a new “safety net” to help members get a refund when they buy something on Trade Me Marketplace that doesn’t turn up, or receive something that wasn’t as described.
“Only a tiny percentage of Trade Me transactions ever result in an issue, but on these rare occasions we want to make it easier for members to get things sorted out. The Buyer Protection initiative is a free safety net, and another way for us to show our members that we’ve got their backs.”
“It’s important that our members know Trade Me is different to unregulated marketplaces. With us they have someone to contact if they need a hand, and an avenue to get a refund if something goes wrong.”
Mr McLean said the Trade Me Trust & Safety and Customer Service teams had been helping the site’s members out for 18 years. “Buyer Protection builds on that great work, we’re going to be talking about it more, educating our community about how it works, making it easier to lodge an issue with one click and giving buyers more peace of mind when they buy items on Trade Me.”
He said the Buyer Protection icon would appear immediately on approximately 80% of Trade Me Marketplace listings (as of 21 February), and had the potential to cover 98% of all Marketplace listings*. “We hope the proportion of listings covered by Buyer Protection ramps up significantly over time, as buyers begin to expect it and sellers are rewarded with more sales.
“Buyer Protection will apply to new goods and used items too. This gives our buyers a great level of protection when choosing their next second-hand fridge, bike or trampoline.”
How it works
Mr McLean said Buyer Protection would kick in after a buyer contacted Trade Me about a bad trade. The buyer could ultimately get a refund, subject to some criteria.
“For example, the item needs to be bought via our card payment system so we can see the transaction from end-to-end. The maximum refund claim is $2,500 and it applies to our general items Marketplace – with a few exceptions like the pets and animals category.”
He said the impact on sellers was expected to be minimal as good sellers are “already experts” at resolving issues quickly, if they arise. “Most sellers won’t hear from us, but we’ll be in touch with any sellers who do have an issue. If they can’t resolve the hiccup with the buyer, we’ll investigate and ultimately will refund the transaction if required.
“Only rogue sellers will have an issue with this – they’re the ones who will hear from us and it will force them to smarten up their act or get off Trade Me altogether.”
Buyer Protection comes into effect from 21 February, after Trade Me members have had a chance to digest the new Buyer Protection policy and the simple changes to the terms and conditions.
*Based on listings as at 3 February 2017.. We can only achieve 98% coverage because we have excluded some Marketplace categories.