Reviewing Trade Me’s Ping Terms and Conditions

Trade Me are going to be releasing a new PayPal-esque payment system called Ping, which will replace their Pay Now system. Let’s review Ping’s Terms and Conditions to see if there’s any weird bits. Of course, I am not a Lawyer and this is not legal advice, just a blog on the Internet.

The gist of it looks fairly reasonable, but if you’re a seller, I wouldn’t consider a Ping balance as cash until it’s in my bank account (see section 3.4). And even then Trade Me could reverse a transaction (section 11.2), put the Ping balance into negative territory, then raise the debt with a Debt Collection agency if not paid. And of course, there’s a fee this service. If you’re a buyer, things look rosy, with lots of buyer protection.

If you use Ping as a seller, it’ll be enabled for all future listings, unless turned off (section 2.1).

Trade Me will hold the funds on trust until you tell them to transfer to a bank account (section 3.1). Trade Me can take fees from money held in trust and own the interest on money held in trust (section 3.2).

Trade Me can hold payments for various reasons, and that ‘payments into the seller’s Ping balance are not a guarantee of payment into the seller’s verified Nominated Bank Account‘ (section 3.4).

If you don’t use Ping for 48 months the balance may be given to Trade Me (section 3.6).

There’s a transaction fee to use Ping. While it’s not currently (as of 8 March 2017) listed on Trade Me’s fees pages, Pay Now, is 1.95% of the total purchase price including shipping.

You’re not allowed to add a surcharge or cost on buyers to use Ping (section 9.2).

If there’s a dispute and Trade Me at their sole discretion agrees, Trade Me can reverse a transaction (section 11.2) and reverse the payment, by debiting the seller’s Ping balance (section 11.3).

Trade Me makes no warranty that Ping will ‘meet the requirements of all prospective users’ and will be uninterrupted, timely, secure or error free (section 13.1).