Payments at Checkout
In the last article we learned how to:
Integrating with Stripe
Integrating with Square
This setting tells Fleetwire how much to collect at the checkout. Most people leave it at the default to "Require full payment at checkout." You can also choose to only require a percentage or nothing at all.
This setting allows you to use Stripe to collect the payment at checkout via authorization or charge.
The "Automatic" mode will tell Fleetwire you want to do a Stripe charge and capture the payment instantly.
Points to know
Captures the charge right away, so there is no chance of forgetting to capture and have the funds released back to the renters' bank.
It will be deposited quicker to your bank since it is captured immediately.
If the renter does not qualify for your rental, you will need to refund them, and you will still be charged the Stripe processing fee.
The "Manual" mode will tell Fleetwire you want to do a Stripe authorization and manually capture the payment later (within 7 days).
Points to know
You will not be charged Stripes 2.9% processing fee.
It authorizes the payment to ensure they have the funds, but you will not be charged the 2.9% Stripe processing fee until you capture it.
it gives you 7 days to verify the renters' information to see if they qualify for the rental (of age, correct insurance, contract signed, etc.).
You can "release" the authorization if the rental does not work out, and you will not be charged the Stripe fee.
Will automatically be "released" back to the renters' bank account if you do nothing.
Fleetwire will notify you of authorizations about to expire in 24 hours if you forget to capture them.
You can capture or release an open authorization from the booking page for that payment if you have an open authorization. Additionally, you can log into Stripe.com and do the same.
Most hosts choose to use a payment authorization at checkout and collect it later after their information is confirmed and they know they won't need to refund the renter. Additionally, most hosts authorize the refundable security deposits if the rental is less than the 7 days the authorization will hold for. If the rental is longer than 7 days, then most hosts just capture it and pay the Stripe fee for the security, knowing that they have the funds in case of any incidentals. Stripe's 2.9% fee should just be worked into the price of the rental for the rental amount and the refundable security deposit.
More info from Stripe here
Integrating with Stripe
Integrating with Square
Amount Due at Checkout
This setting tells Fleetwire how much to collect at the checkout. Most people leave it at the default to "Require full payment at checkout." You can also choose to only require a percentage or nothing at all.
Booking Capture Mode
This setting allows you to use Stripe to collect the payment at checkout via authorization or charge.
The "Automatic" mode will tell Fleetwire you want to do a Stripe charge and capture the payment instantly.
Points to know
Captures the charge right away, so there is no chance of forgetting to capture and have the funds released back to the renters' bank.
It will be deposited quicker to your bank since it is captured immediately.
If the renter does not qualify for your rental, you will need to refund them, and you will still be charged the Stripe processing fee.
The "Manual" mode will tell Fleetwire you want to do a Stripe authorization and manually capture the payment later (within 7 days).
Points to know
You will not be charged Stripes 2.9% processing fee.
It authorizes the payment to ensure they have the funds, but you will not be charged the 2.9% Stripe processing fee until you capture it.
it gives you 7 days to verify the renters' information to see if they qualify for the rental (of age, correct insurance, contract signed, etc.).
You can "release" the authorization if the rental does not work out, and you will not be charged the Stripe fee.
Will automatically be "released" back to the renters' bank account if you do nothing.
Fleetwire will notify you of authorizations about to expire in 24 hours if you forget to capture them.
You can capture or release an open authorization from the booking page for that payment if you have an open authorization. Additionally, you can log into Stripe.com and do the same.
Most hosts choose to use a payment authorization at checkout and collect it later after their information is confirmed and they know they won't need to refund the renter. Additionally, most hosts authorize the refundable security deposits if the rental is less than the 7 days the authorization will hold for. If the rental is longer than 7 days, then most hosts just capture it and pay the Stripe fee for the security, knowing that they have the funds in case of any incidentals. Stripe's 2.9% fee should just be worked into the price of the rental for the rental amount and the refundable security deposit.
More info from Stripe here
Updated on: 19/07/2023
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