A new idea on the forums but- does it sound conceivable that Stripe could do refundable deposits?
We’re an online rental marketplace and some items are not worth paying $5 insurance fee for (like a $5-$10 transaction for instance). So we’re wanting to do deposits instead for those. There doesn’t seem to be an obvious way to have Stripe do this though (we already have it set up for payments using Zeroqode’s plugin).
Any ideas on how to do this?
Stripe allows you to offer partial refunds.
You could just add the deposit to the price and then issue the partial refund when the rental is returned and in good condition.
ooh that is a good idea! Sound’s better than the idea I just had though I’ll need to look into the cost of refunds.
I also thought of this one, so that we wouldn’t have to split up the payment:
Idea: if on the day the transaction starts, we issue a charge hold and it only went through if damages happened? this would be fine on rentals that are shorter than 7 days but not otherwise. Then again, if it’s over 7 days, it’s probably worth paying $5 for insurance as the price will be decently high…
Greetings… were you able to get this up and running? would you mind sharing your thoughts and does zerocode now allow for deposits @levon ?
haven’t seen this conversation before, but I guess a 7 day hold with automatic extension of another 7 day hold (if the transaction is happening over longer period) could be a way to go about this.
In case of refunds stripe doesn’t return the initial fee you pay for the transaction
Levon Terteryan
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