Specific conditions regarding the wallet
The Wallapop wallet or electronic wallet is a service offered to Users that allows them to receive, store, withdraw and use funds electronically within the platform. This electronic wallet facilitates secure transactions for the purchase and sale of products and services within the Wallapop environment.
The Payment Service Provider (Mangopay, S.A. in this case) is the one who processes the payment made by the buyer to the seller to execute the transaction agreed between them. This Provider by means of an electronic payment service in a secure environment, deposits the money provided by the buyer as payment of the purchase-sale in the electronic purse system. Likewise, this Provider manages and processes any transaction that may be carried out using the wallet.
Our payment solutions for remote and face-to-face transactions are provided by Mangopay, S.A., a limited liability company incorporated under Luxembourg law whose registered office is located at 2, Avenue Amélie, L-1125 Luxembourg and which is registered with the Luxembourg Commerce and Companies Registry under number B173459 (“Mangopay”). Mangopay is an e-money institution licensed and regulated by the Luxembourg financial sector supervisory body (Commission de Surveillance du Secteur Financier).
You will find the wallet in the “You” section of the navigation bar in the application and in the “Wallet” section on the website. You will also be able to see the history of your wallet’s movements. You can separate it by entries, exits or view it all together.
1. Paying with your wallet
Once you have made a sale on Wallapop, you will have the amount in your wallet. The money stored in the wallet is used to make purchases on Wallapop, both in person transactions and transactions in which there is shipping through our platform.
At the time of payment, if the amount of the purchase is equal to or less than the money in your wallet, you will be given the option to pay with your wallet. If the wallet money is not enough, you will have the option to make a mixed payment (wallet plus bank card or PayPal, the latter only if the transaction is by shipment).
You can check the payment method in the shipment tracking.
For refunds, if you have made a mixed payment with the wallet, each amount will be refunded through the corresponding payment method. For example, if you paid €20 by wallet and €10 by card, the refund will be made to each payment method, respectively.
2. Receiving money through the wallet
Proceeds from sales made through Wallapop shipping will appear in your wallet without having to wait for your bank once the buyer has confirmed that the item is in good condition.
Once the money is available in the wallet you can decide if you want to use it to make purchases on Wallapop or transfer the money to your bank account, without any additional cost, and which you will receive within 2-5 working days. Remember that if you want to transfer the money to your bank account, you must have it registered with Wallapop.
To transfer the money to your bank account:
- Access your wallet and find the “Transfer to my bank account” button. If you have not yet verified your identity, the button will be disabled and you will see a message asking you to verify your identity. For more information on identity verification see: Verify my identity.
- Once you have verified your identity, you will be given the option to add a bank account if you have not yet registered one, or a menu to select the amount you want to transfer (always equal to or less than the amount available).
- Once you confirm the transfer, you will receive the money within 2-5 working days.
3. When do I receive a refund?
Listed below are the different situations in which the amount paid for an item is refunded:
- If you have made an offer and after 24 hours the seller has not accepted the offer or has rejected it.
- If the seller does not deliver the package to the transport company within the established period, the code will expire and the amount will be refunded to your account.
- If the seller cancels the transaction before delivering the package to the transport agency, we will proceed to refund the amount according to the payment method used and will inform you via chat.
- If it is not possible to deliver the package to the recipient and it is returned to the seller, the amount will be refunded.
- In cases of returns, when the seller receives the returned package, the amount will be refunded.
Once the refund has been processed:
- If you paid with the wallet, you will be able to use the money immediately.
- If you made a mixed payment using the wallet, the money will be refunded via the corresponding payment method. For example, if you paid €20 with the wallet and €10 with a card, the corresponding refund will be made to each payment method, respectively.
- If you paid by credit card, you will receive it in your account within 2-5 working days, depending on your bank (weekends not included). Please note that if you paid by credit card, the refund may be reflected in the next monthly statement.
4. Collecting in person with the wallet
To receive your money in face-to-face sales, access your wallet from the “You” section of the navigation bar and click on the “Collect” button under the available balance.
The camera will automatically open to scan the QR code that the buyer will have to show you. If you have trouble scanning it, you can add it manually by typing in the code that appears below the buyer’s QR code. Remember that the QR code is valid for 24 hours and, if it has expired, you will have to ask the buyer to generate a new code.
You will automatically receive the amount as an available balance in your wallet.
5. Paying in person with the wallet
To pay face-to-face with the wallet, access the wallet and click on the “Pay” button under your available balance.
Next, enter the amount you are going to pay the seller and click on “Pay now”. Remember that it has to be equal to or less than the balance in your wallet, it is not possible to make payments for higher amounts using the wallet, but you can make a mixed payment consisting of wallet plus cash, bank card or other means of payment supported by Wallapop.
A QR code will then be displayed on your screen for the merchant to scan from the option in their wallet. If for some reason the camera on the merchant’s device is unable to scan the QR code, you will be able to scan it manually using the alphanumeric code that you will find below the QR code.
Please note that this is a deal between private individuals – Wallapop cannot mediate in any case and there is no option to make a complaint.
6. KYC Verifications
Users are subject to the regulatory procedures applied by the Payment Service Provider, such as identity verification and other requirements of the “Know Your Client” (KYC) procedure, in compliance with applicable regulations. The Payment Service Provider may conduct KYC checks on any User if it suspects such User of possibly fraudulent or suspicious behavior. For identity verification purposes, the User may be asked to provide additional information (such as the identity document, a copy of the passport or the driving license), as requested by the Payment Service Provider. If a User fails to provide the documents requested by the Payment Service Provider, the User’s electronic wallet may be suspended and the User will not be able to disburse funds until the User’s identity is confirmed. In addition, the Payment Service Provider may suspend the User’s ability to conduct transactions from the User’s wallet.
7. Transfer of funds from the electronic wallet
Users may transfer funds from the electronic wallet to their bank account; such transfer will be processed by the Payment Service Provider. The User may pay a payment in Euros to a bank account opened with a bank in the European Union/European Economic Area. Payments on account in other currencies or outside the European Union/European Economic Area are not available. If a User reaches the KYC thresholds or if the Payment Service Provider suspects that the User is engaging in possibly suspicious or fraudulent activity, the User will not be able to transfer funds until the User completes the relevant KYC verifications.
8. Temporary or permanent blocking of User accounts
In order to ensure a safe and secure environment for Users using the Website, Wallapop may, including through automated software or algorithms, block Users’ accounts by preventing the use of the Service, either temporarily or permanently, to any User who violates any of the rules set out in the Wallapop Terms and Conditions, the law, morality or public order.
Users whose accounts are blocked will not be able to use or access some of the functionalities of the Website such as transferring funds that they have in their wallet. Where appropriate and depending on the individual circumstances of each case, they will be able to complete any pending transactions and transfer the funds in their wallet to their bank account, provided that Users have completed the relevant KYC verifications.