The way of processing the payments for your bookings varies for every channel. So, let's go through the most important vacation rental channels and overview the payment processing practice for each one of them.
Airbnb - The guest pays directly to Airbnb and then they release your payout 24 hours after your guest's scheduled check-in time. After the payout has been done, it takes some additional time to receive your money, depending on your payout method.
Booking.com - With Booking.com, you can choose between two payment processing options:
All payments managed by Booking.com - All guest payments will be facilitated by Booking.com. and you'll receive your payouts via bank transfer no later than the 15th of the month after the guest has checkout.
Self-payment processing - Booking.com will facilitate the payments and send you your payout by virtual credit card that you'll have to charge yourself as you would usually do.
Please note that these Booking.com payment processing methods are NOT available everywhere yet.
A virtual credit card is a digital MasterCard that allows online payments. For each one of your bookings, you'll receive a new card that you can charge as you would otherwise.
For more information about Booking.com payment processing methods read this article.
HomeAway / VRBO - Similar to Booking.com with the difference that when your HomeAway account is connected to PMS, the only available option is to facilitate the payments yourself by charging credit cards via a payment processor.
Please note that you need to have more than 5 properties listed on HomeAway to be able to connect your account with Channel Manager / PMS like FantasticStay.
Expedia - You have the option to choose whether your guests will be able to pay you online at the time of booking, directly at your property, or both. Depending on the payment option, you will either need to request your payout from Expedia, or they will request their commission from you.
Expedia also issues virtual credit cards for payments. When a guest books at your property, a card will be pre-loaded with the payment amount, which you can charge after the guest checks out and the payment will be automatically transferred to your bank account. A new Expedia Virtual Card is assigned to each reservation.
As a professional vacation rental property manager, you'd love your PMS to have an industry-leading payment processing integration.
Our powerful payment processing system lets you collect accommodation charges, security deposits, and all types of additional reservation fees, automatically. We have seamless integration with Stripe.
Stripe is available for all FantasticStay users. Free version users will be charged 0.8% of the payments made via our platform, while users who have upgraded to a paid version won't be charged additionally.
Let's review the benefits of how our PMS and payment processing integration can help your business:
Full control - You can collect accommodation charges, reservation fees, and security deposits. When collecting a deposit, you’re also able to pre-authorize it. There’s the flexibility to charge the entire unpaid amount or just a custom percentage. Filter and triggers are available as well, and you can set those to all listings or only to specific ones.
Automation - By automating your payment process, you’ll save tons of time manually entering transactional information every time you’re collecting a payment.
Security - Payment frauds are happening every now and then. FantasticStay is seamlessly integrated with the Stripe Payment System, which is PCI-certified - this is the highest level of security certification in the payment industry.
Reduces human errors - The smooth flow of data eliminates the chance of errors to be made when you’re entering data manually.
It’s faster - Modern electronic transactions are much quicker.