A payment processing system that allows for real-time transaction authorization and settlement. This can be beneficial for short-term rental hosts who want faster access to their funds.
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Glossary Term: Payment Processing
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Software designed to streamline and automate the booking process for short-term rentals, typically including features like calendar synchronization, payment processing, and guest communication tools.
The accepted forms of payment for booking and security deposits, typically processed securely through the platform.
Using mobile devices and digital wallets, such as Apple Pay or Google Pay, to process payments for bookings, offering convenience and secure transactions.
A global fintech company that provides recurring payment solutions, often used by property managers to automate rent collection for short-term rentals.
A secure payment processing system used by platforms like Airbnb and VRBO to handle transactions between guests and hosts.
The process of converting rental rates, security deposits, and other fees from the host’s local currency to the guest’s preferred currency on platforms like Airbnb and VRBO.
A system where rental payments from guests are held by a third-party platform (like Airbnb or VRBO) until after check-in, ensuring both guest and host protection.
Adding or removing payment methods accepted for bookings and additional charges in a short-term rental business, such as credit cards, PayPal, or Stripe, to provide flexibility for guests.
A software or platform that automates the process of invoicing and payment collection for short-term rentals. An efficient ebilling system simplifies financial transactions and ensures timely payments.
A fee charged by payment processors or short-term rental platforms for transactions involving different currencies, often a percentage of the total booking amount.
A fee charged by payment processors for each transaction made using a credit card. This fee is typically a percentage of the transaction amount plus a fixed fee per transaction.