Need an integration?
Request another payment provider for your VEVS Car Rental Software checkout.
RequestIncluded with all VEVS Car Rental Software plans
Can be added upon request
Configure Your Payment Options
Configure online and offline payment methods in VEVS car reservation software, temporarily disable payments while continuing to accept reservations, and track every rental transaction.
Set up Payments
- Activate the payment methods that suit your car rental operation.
- Collect real-time reservation and deposit payments through trusted providers.
- Let renters pay online by credit card or payment gateway account.
Custom Settings
- Set the currency and applicable rental fees.
- Configure reservation deposit payments and taxes.
- Manage payment settings in the VEVS Car Rental Software admin area.
How online payment works
Receiving payments is probably the most crucial aspect of running a car rental business online! Online payment methods are the ways that your customers can pay for their reservations, deposits, rental balances, and other services. It is important to choose what payment methods you will offer when you start your car rental business and review them regularly to see if you are keeping up with your customer's payment preferences and if you are meeting the needs of your rental business and customers.
Although it’s a quick and easy action for a renter to pay online, it’s a complex multi-step process for the money to be moved from the client’s credit card to your car rental business bank account. Online payment is very similar to the process that happens in physical stores. The main difference is that customers don’t have to use a physical card terminal to swipe their card. Instead, they use an online form on a secure webpage. After a customer makes a reservation using an online form, the merchant will transmit the information for the reservation to a payment processing company over the Internet. Payment processing company stays between the customer and the car rental business and processes this transaction. Hence, rental businesses need to have an account with such a payment processing company. This merchant account is a special kind of account with the payment processing company used exclusively to hold funds received from online transactions. Funds accumulated in your merchant account are transferred to your bank account on a regular basis.
Step by step
So being a car rental business owner, you have a website where customers pay for their reservations, rental services, and other charges. What happens is as follows:
Clients come to your website and select the reservation or rental service they need to pay for:
- The client chooses a method of payment they need to use, e.g., the payment processing company they will pay through PayPal, Stripe, ….
- The client uses their credit card (or payment processing account) to transfer money from it to your merchant account
- The money is now into your merchant account, e.g., in your PayPal account
- You can move the funds from your merchant account to your bank account
And this is how clients’ money go to your bank account. Like said earlier, you may use a bank which offers a merchant account. In that case, you will skip step 4 as the money will go directly to your bank account in step 3. With our car reservation software you can choose from nine of the most popular payment processing companies in the world. All you need to do is to register an account with one of these companies and configure your car rental website to accept payments. If you use another payment processing company contact us to discuss how we can integrate it into your website.
Fees
In each payment transaction involving credit cards, payment processing companies charge a processing fee which takes a bite out of the total profits. We generally see credit card processing fees stretch anywhere from 2.25% – 3.70% or higher. So if a customer pays you €100 for a rental reservation or service, then €2.25 to €3.70 will go to the payment processing company, and you will get the rest - €96.30 - €97.75. Remember, that being a merchant, you pay these fees, and not the client so calculate them in the prices you charge for your rental services.
With your VEVS website, you will not pay any other fees. We do not collect payment transaction fees!
Risks & Security
Online payments present unique challenges compared to physical in-store payments. Because a physical card isn’t required, and the customer’s identity can be hidden, the chance of facing fraud is higher. Such a fraudulent transaction will most likely result in a Chargeback. It’s important to monitor your car rental payments to predict the possibility of the risk.
Strategies to minimize chargebacks:
- Beware of unusual transaction activity
- Communicate with your customers - Try to resolve a dispute directly with a customer before they consider disputing the charge with their bank.
- Accurate Statement Description - Ensure that your Service Provider allows you to accurately set what appears on your customer's bank statements.
- Proof of purchase and delivery
- Be timely in response to chargebacks
As all transactions are handled by a payment processing company, we at VEVS, do not store credit card details for your customers. However, as there is a communication between your website and the payment processing company we advise you to use an SSL (HTTPS) on your car rental website so that this communication is fully secured. This will also make your customers a bit safer when paying for their reservations and rental services.
With VEVS Car Rental Software you also have the option to select offline payment methods - Bank or Cash. This means that the payments are made manually by the client either in cash or via bank transfer to you by hand or respectfully to your company bank account. No money is transferred electronically via your website!
Don’t waste time anymore, create a car rental website with VEVS and start accepting rental payments online!