PayPal aids in improving buyer-seller relationships with its seamless transaction platform that allows buyers to pay sellers for goods bought or services rendered. To ensure clients or buyers are satisfied with services rendered or goods purchased, PayPal withholds payments made for 21 days as a form of security to protect the buyer, but with the “Confirm Receipt” feature the seller can now receive their payments faster than 21 days. In lieu of this, what exactly does the “Confirm Receipt” button mean and what does it do?
The “Confirm Receipt” feature allows buyers or clients to confirm with PayPal that the service rendered or goods bought from a seller, are to their satisfaction. When the button is clicked by a buyer, the money withheld by PayPal will be released to the seller as the transaction has been confirmed.
This is one of PayPal’s buyer protection features. In this article, I’ll explain how to confirm receipt on PayPal.
What Does Confirm Receipt Mean On PayPal?
The “Confirm Receipt” feature means that buyers can confirm that the goods or service rendered by a seller satisfies their requirements. This feature was initiated by PayPal to protect buyers and also help sellers by releasing their funds earlier than the usual 21 days. Usually, before the initiation of the confirm receipt feature, when buyers patronize sellers, the payment made by the buyer is withheld by PayPal for 21 days to make sure that buyers are satisfied with their purchase, and if they are not, they can easily reverse the transaction and ask for a refund.
If the purchases made are goods to be delivered with a tracking number, once the tracking number is entered on PayPal, it’s easy for PayPal to track the goods and once it’s delivered PayPal automatically releases the payment to the seller instead of it being held for 21 days. This only applies to transactions that involve goods purchased to be delivered to the buyer. The tracking id/number is entered by the seller so PayPal will automatically track the good until it’s delivered.
With this, the buyer doesn’t need to “confirm receipt” as PayPal has already confirmed the transaction with the tracking number and also released the payment to the seller. This doesn’t in any way tamper with the buyer’s security as the buyer is always protected at all costs. PayPal assumes that the good being delivered means the seller is authentic hence why PayPal releases the funds to the seller within 48 hours.
With the confirm receipt feature, sellers can receive their funds in 7 days or lesser instead of the usual 21 days.
How To Confirm Receipt on PayPal
To confirm receipt on PayPal by the buyer is quite easy but there are some steps the seller has to take so as to make the confirm Receipt button appear in the buyer’s transaction details.
The following are the steps to confirm receipt on PayPal:
Step 1: Click On Transaction Details
Here you have the details of the transaction performed with two options that read “Get your funds sooner” and “Add tracking info”.
Step 2: Click On “Get Your Funds Sooner”
After clicking on “Get your funds sooner”, you’ll be redirected to a page that asks if you sold a product or you rendered a service or a virtual product. This is to determine the nature of the transaction and confirm your order status.
Step 3: Choose “Service Or Virtual Product” And Click On “Confirm Order Status”
When you’re on the “get your funds sooner” page, choose the “Service or virtual product” option and click on “Confirm Order status” to be redirected to the confirm order status page.
Step 4: Change Order Status To “Completed” And Enter The Date The Money Was Sent Or Received.
On the confirm order status page, PayPal wants to know if you’ve completed the order. It also needs to confirm the date you received the payment so you can get your payment sooner. Change the status of the order to order complete then enter the date the money was sent or received.
After this, click on the Submit button.
After completing these processes, you will see a message that reads “You have recently updated your order information. You will get your money within 7 days of verification”. 7 days might be a pretty long time to receive your money hence if you want to get your funds in less than 7 days, here’s what to do:
As explained above, navigate to the “confirm order status” page through the transaction details page.
Step 2: Change Order Status To “Order Processed”
Click on the change order status bar and change the order status to “order processed”. Click on submit to save your changes.
Changing the order status to “Order Processed” helps PayPal to understand that a service has been rendered or a digital product has been delivered to the satisfaction of the client. This will require PayPal to verify from the client by asking them to click on the “Confirm Receipt” button.
Step 1: Click On Transaction Details
To review the transaction details of your recent transaction, you need to click on transaction details. This is where the “confirm receipt” button will be found.
Step 2: Click On “Confirm Receipt”
The confirm receipt button is highlighted in blue, clicking on it confirms that you’re satisfied with the product purchased or service rendered by the seller.
After clicking the confirm receipt button, PayPal is prompted to release the funds immediately to the recipient. This doesn’t tamper with the buyer’s security as the buyer can still file a dispute as long as the payment was made for goods and services. The buyer has up to 180 days to file a complaint.