What you need to know about Risk-free Reservations
I'm the Product Marketing Manager here at Booking.com for the Risk-free Reservations program. We noticed a lot of conversations in the Community on the topic! So we gathered the top three most asked questions to answer here, in order to provide more clarity. We want to enable you to make the most of this program.
How can you make sure that the payment is guaranteed?
In the event of a cancellation, Risk-free Reservations provides you with a full, risk-free experience if you allow us to resell the cancelled room nights. To do so we need continued availability for the corresponding rooms and a compelling price. This is the commitment we ask from your side to guarantee the payment.
Receiving your Risk-free Reservations, what is the process, timing and amount you can expect to get paid?
The majority of guests that book flexible policies don’t actually end up cancelling, so in most cases you’ll be able to handle payment as normal, charging the guest once they are liable according to the policy terms.
If the guest cancels outside the free-cancellation window and their means of payment is invalid, you mark this in the system as per usual and we’ll search for a replacement booking. If we are unable to find a new guest for those reservations we’ll still pay you for the room nights according to the payment solution you have signed up for.
If a guest doesn’t show up on the day of arrival and again has not provided valid payment details, we will pay you straight-away as there is no time to find a new guest.
Booking.com will only pay out for the room nights we were unable to find a replacement for and when the guest who cancelled is liable but fails to provide a valid means of payment.
If we fail to replace the full reservation we’ll pay for the loss on the day of check-in.
We will pay you the amount that was expected from the unfilled room nights in the original booking.
What are the benefits of Risk-free Reservations?
One of the top selling points for Booking.com guests is having the option of free cancellation. With Risk-free Reservations you’ll be able to attract those guests by adding more flexibility to your existing cancellations policies, with the guarantee of a risk-free experience. Adding more flexibility will boost your conversion and help you secure bookings quicker.
How can you join Risk-free Reservations?
To join Risk-free Reservations you need to be a part of Payments by Booking.com. We use this solution to ensure your payment. If you have ticked all the criteria we will enroll you for this feature and confirm via an Extranet inbox message and/or an additional email. You can also enable/disable it here if you’ve not been automatically enrolled or your business strategy changes.
For more answers to frequently asked questions visit our FAQ Help article.
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