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Pending transactions. Can a middle man spend that money while it is pending?


crash_davis

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This question is specifically about Mercari, the online trading market place. I've only used it a few times. If you are diligent, every now and then you can find good golf deals.

The market process goes I buy an item, Mercari charges my CC, holds payment to seller until I receive the item, acknowledge receipt of that item, and agree item is as described, then Mercari releases the payment to the seller. The buyer has 3 days to dispute after receipt of item, or non-receipt. If successfully disputed, CC charge will be canceled and no one gets paid and buyer is not incurred charges.

Anyway, I hadn't used it in a couple of years. I am looking to buy some used clubs for my daughter. I noticed there are many sketchy brand new zero rating sellers selling way too good to be true priced golf equipment. I'm almost positive all the listings are scams and that the buyer will never receive the item. But per the process described above, I have no risk to buy. So I pulled the trigger on an item. My CC shows a "pending" charge which means it's not yet been cleared so it's technically not hit my ledger yet and won't until I confirm receipt that payment is released by Mercari.

Assuming it's a scam, what is the "seller" getting from this bogus sale? It's not like he is ever going to get the money if it's bogus. So that got me thinking, is Mercari the "seller" in these listings? Does Mercari have access to the cash in the "pending" transaction? Can they invest that money and earn interest on it in the few days/week that it takes for this transaction to be deemed bogus? It may be a tiny amount for my transaction but if they are doing this site wide, it has to be a nice way to earn interest money.

TLDR: What happens to "pending" transaction on CCs? Can someone access that money while it is pending?

Edited by crash_davis
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57 minutes ago, crash_davis said:

Then I have no idea why someone is taking the time to set up bogus items for sell. They will never see the money. 

What is someone getting from posting and "selling" all of these fake items?

Maybe they're betting a few people will miss that three day window and they'll get paid?

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Maybe.

Seller has a certain number of days to ship the item. Mercari auto bugs them to ship. If not shipped after so many days, the transaction is canceled. Then seller has to provide tracking number. Then buyer has to receive the item in the system. 

Mercari tracks everything. After shipment tracking shows that it is delivered, Mercari will auto bug the buyer at least twice a day to remind him to receive item and rate seller, or dispute. Mercari wants the buyer to accept and process payment ASAP so that they can get their %. Not sure if you can dispute after the 3 day window, but I imagine you have a good case if you bought golf clubs and received a box of chocolate, even after 3 days.

I've made 3 purchases from Mercari w/out any issues. But that was 2 years ago. It didn't have all the likely bullshit listings that it does today.

This morning I contacted the seller thanking him for the transaction and asking when he expects to ship. No replies. 

I treating this as a test and lessons learned experiment. 

  • Hook 'Em 1
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The seller shipped something because I received a USPS tracking number. The status has been stuck for 6 days on "Departed Shipping Partner Facility, USPS Awaiting Item". My CC has been charged because I do see the charge. There are about 30 golf listings with a new different seller who sells 2 things, golf club(s) and 1 article of woman's clothing. I looked back on sold items tracking back to Aug 2 that fits the brand new seller selling golf club(s) and single woman's article and none of the sellers have had ratings which means none of those buyers have received their goods either. That's how the seller receives his money is when buyer receives goods and rates the seller.

Per Mercari, I cannot raise my order for concern until 30 days after initial shipment dropped off at a center and the shipment has been stuck for 7 days in a shipment step.

At this point, I'm leaning towards this being a Mercari scam to earn interest on bogus orders which will eventually get canceled after 37+ days. Someone "shipped" something through a Partner facility which is supposed to eventually deliver to USPS. I'm curious if and how this will eventually get canceled.

Departed Shipping Partner Facility, USPS Awaiting Item

LOS ANGELES, CA 90040 

August 10, 2023, 3:49 am
Shipping Partner: LOGOSH

 

Arrived Shipping Partner Facility, USPS Awaiting Item

LOS ANGELES, CA 90040 

August 10, 2023, 2:51 am
Shipping Partner: LOGOSH

Picked Up by Shipping Partner, USPS Awaiting Item

LOS ANGELES, CA 90040 

August 10, 2023, 2:01 am
Shipping Partner: LOGOSH

Picked Up by Shipping Partner, USPS Awaiting Item

LOS ANGELES, CA 90040 

August 10, 2023, 1:56 am
Shipping Partner: LOGOSH

Shipping Label Created, USPS Awaiting Item

LOS ANGELES, CA 90040 

August 10, 2023, 12:50 am

  • Hook 'Em 1
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  • 2 weeks later...

Wrapping up this thread. I sent Mercari a message saying that the listing was bogus because there were a shitton of similar postings going back to Aug 2 where none of the sellers had been rated. I added that it appeared as if Mercari were listing the fake postings to earn interest off the bogus transactions. They immediately canceled my order, refunded my money, and didn't respond to my accusation.

Anyway I had been tracking the shipping number which never progressed from the initial step to see what happens with the shipment. Finally today I checked on the shipment and get below from USPS. So yea, it had to have been a Mercari initiated bogus transaction. There was never a seller because the goods would've never been received by the buyer for the seller to make any money.

 

Tracking Not Displayed

Tracking information will not be displayed because this package was shipped with counterfeit postage. Please contact the merchant or seller with any questions.

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  • 3 weeks later...

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