Your seller should have received a message from eBay informing them that you have paid, this is the time they need to give you their contact details for you to come and collect the item.
Whilst that code does release their payout sooner, you only give them this code after you have collected the item, not before.
If you do not hear from them, that is, no address / contact detail are forthcoming, do not worry your money is safe, after 7 days just proceed this way :
Go right of the item purchased, and from More Actions select.... I Have Not Received My Item.
If you are not fully refunded within 3 days, you must escalate the case on day 4 or within 30 days from opening the case, and eBay will step in and force the refund.
Do not close the case early for any excuse or promise the seller may give, and do not forget to escalate.
@hghourson