What is Payments by Booking.com?

Over the past couple of years, vacation rental property managers and short-term rental travelers have made their priorities abundantly clear:

  • Property managers are looking for secure revenue, reduced costs, and streamlined operations
  • Travelers want to know exactly how much they’ll be charged, when they’ll be charged, and by whom

Booking.com has addressed the needs of both sides with its payment service, Payments by Booking.com, which was introduced in 2022. 

 

 

What is Payments by Booking.com?

Payments by Booking.com is a trusted payment service that features guaranteed payments and  fraud protection. It alleviates the operational workload and headaches of processing cancellations, no-shows, invalid credit cards, and fraudulent payments and chargebacks that cause revenue loss. 

 

More than 1.2 million users already rely on Payments by Booking.com, and that number is only going to grow in the future. 

 

 

How does it work?

Payments by Booking.com works in three easy steps:

 

Three easy steps for vacation rental property managers on Booking.com

Source: Booking.com

 

  1. As a Payments by Booking.com user, you’ll be connected to Stripe—an online payment processing solution trusted by Amazon, Google, and the world’s top companies. Your guest pays through Booking.com. Thanks to that connection to Stripe, Booking.com can securely handle your payments while also offering your guests more flexibility and choices of online payment methods.
  2. Booking.com facilitates guest payments. They handle any online payment problems directly with guests, meaning you no longer have to deal with those headaches.
  3. Booking.com sends you payouts via bank transfer. They initiate your gross payouts on the day of guest check-in; payouts can take 1–3 business days to reach your bank account.

 

 

What are the benefits?

Maximized payment convenience and security, enhanced fraud and chargeback protection, and increased visibility are a few of the big benefits of Payments by Booking.com—which explains why more than 1.2 million users already trust this payment service.

 

Here are some more benefits:

  • Guaranteed payments: When you’re owed money, Booking.com guarantees your payouts and facilitates prepayment online.
  • Fewer cancellations: On average, Payments by Booking.com users have enjoyed a 14% drop in cancellations and an 83% drop in now-shows.
  • Revenue growth: Based on recent data, 1 in 5  travelers would’ve completed a booking on Booking.com if more payment options were available. 
  • Fraud and chargeback protection: Invalid cards, fraud, and chargebacks are not only headaches, they put serious strain on your operational workload. With this payment service, you no longer have to worry about any of that—Booking.com handles it for you.

 

Benefits for vacation rental property managers on Booking.com

Source: Booking.com

 

 

Payments by Booking.com and VacayHome Connect

The VacayHome Connect team is hearing this question frequently these days: 

 

“What is Payments by Booking.com and how can it help my business?”

 

As the leading full-service channel manager and distribution solution for the vacation rental industry, VacayHome Connect is proud to offer Payments by Booking.com to property management partners.

 

This feature has been enabled in the VacayHome Connect reservation API to indicate to property managers that payments are being facilitated by Booking.com. For properties that have been opted-in, gross booking payouts are sent directly to property managers by bank transfer initiated on the day of guest check-in.  

 

VacayHome Connect’s platform includes Payments by Booking.com along with many other tools and features you won’t find anywhere else:

 

Dedicated Implementation and Client Success Managers with direct lines of contact

U.S.-based 24/7 Contact Center that handles all inquiries, reviews, and reservations

Automated quality check with 100+ checkpoints to maximize content scores & visibility

Automated image tagging, 450+ amenity fields, and advanced reporting & analytics

Seamless integration with the best property management systems and top OTAs

 

If you’d like to learn more about what Payments by Booking.com and VacayHome Connect can do for your business, click the button below to set up some time with our team!

 

 

VacayHome Connect