Payment solution
I have a restaurant booking website that helps customers book a restaurant event. When a customer makes a booking, we charge the customer a refundable security deposit. We will refund the amount after the event. We receive booking fees from the restaurant as a percentage of the total tab.
I am in the process of implementing a payment system such as Paypal or a merchant account. Paypal says they will kill us, if the number of refunds exceeds 5%, they will kill us.
I'm just trying to find the most logical way to implement this.
Thank!
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This is far beyond my experience, but perhaps you could do something similar to booking a hotel ...
Instead of charging the amount when booking, you can simply take the credentials required to pay and do one of two things:
- Schedule a future payment (possibly the day after the booking date) and then, if the deposit is refunded, simply cancel the scheduled payment.
- If the first option is not possible, just wait until after the date of the event, and if the deposit is not "refunded", pay the required payment.
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Personally, I think it will be difficult for you to find a merchant who wants to let you essentially refund all transactions.
I would start talking to each of them and see if they will let you do what you are looking for. I personally find Authorize.NET to be very easy to work with and I was impressed with them.
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I think you will find similar policies for most online payment systems as they are built for payments, not deposits.
As far as I can tell, Google Checkout will allow refunds, but will charge a flat $ 0.30 fee for each refund, which means you lose every time you have a deposit.
A quick search of the online depository has n't gone up that much, no sites I've heard of anything about.
As Dieter G says, I think your best option would be to store the customer card details, but not charge a fee if they don't show up.
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