Payments FAQs for property management companies in the US and Canada
In this article, you’ll find answers to the most frequently asked questions from property management companies in the US and Canada regarding payments.
Stripe FAQs
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Stripe is a payment service provider for businesses. It allows for secure and efficient payment processing when a guest pays online for a reservation made on our platform.
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We work with Stripe to collect guest payments on our platform. To use Stripe, you must first have a legal entity-level ID and you must have completed the Stripe Know Your Partner (KYP) form. Once you're verified, we can make daily payments in bulk for all the properties you'd like us to collect payment for.
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We’ll release payment to your account after each guest has checked in. Your gross pay is sent to a central bank account, and once the funds are released they can take one to three working days to reach your bank account.
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If you use a property management system (PMS) or channel manager, you should contact your Connectivity provider and ask them to enable the Reservations API feature called ‘res_extra_info’. This feature indicates whether we facilitate payment on your PMS or channel manager. We recommend enabling this feature before you receive your first reservation.
You can also check if we facilitate payments for you by clicking on the Reservations tab in the extranet.
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The Bulk Editing tool allows you to add all the properties you'd like us to facilitate payment for in one go. You can add one, some or all of your properties to Payments by Booking.com. You'll have the opportunity to review and edit the properties you've selected before submitting them.
You can find this tool in the Group Extranet, but you’ll only be able to use it once you've completed the Stripe KYP process.
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We'll send daily CSV files of your payout statements to the email address you provided to us in the extranet. We recommend making this email address your preferred point of contact for financial transactions with us.
You can also view and download the CSV files in the extranet by clicking on Finance and selecting Payout information.
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Properties located outside the US and Canada and properties with a legal entity ID in a different country. For example a US property with a legal entity ID in Canada will not be eligible under the Canadian legal entity ID. Properties currently enrolled in the Stripe Single Property Owners (SPO) solution aren’t eligible to be added using the Bulk Editing tool in the Group Extranet yet.
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After you add your first property to Payments by Booking.com, you'll see two new pages under the Finance tab -- Payments Overview and Payments Settings. If you’d like to remove one or more of your properties from Payments by Booking.com:
- Log into the extranet
- Click Payments Overview or Payments Settings
- Click Remove properties, provide your feedback and confirm your changes
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Since Payments by Booking.com uses Stripe as Payment Processor, the property management company, when enabling Payments by Booking.com, enters into a direct contract with Stripe. The Property Management Company is therefore the Merchant of Record.
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After completing your KYP, you’ll need to add your properties through the bulk editing tool. You can also turn on the setting to automatically add your eligible properties to Payments by Booking.com on the Payments Settings page. This feature will automatically onboard all eligible properties to Payments by Booking.com as soon as they become open bookable – saving you time as you do not have to return to the Group Extranet to manually add properties go forward.
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Guest Policies & Payments
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- Allowing guests to book without credit card details
- Can I set up the same policies for all of my properties in one go?
- How can I set up the grace period?
- Managing my services charges
- Updating your internet, pets and parking policies
- Setting up or changing your property’s policies
- Setting up cancellation policies
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- Supplying guests with invoices
- Accessing guests’ credit card details
- How can I set up pre-authorisation for guests’ credit cards?
- Everything you need to know about damage policy options
- Handling invalid credit cards
- How can I change my payment preferences and which credit cards I accept?
- Setting up a prepayment policy
- How do I handle guest payments?
- Everything you need to know about Strong Customer Authentication
- Understanding the new cash payment feature in your Guest Payment Options
- Payments: FAQs
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- Introducing payment services from Booking.com
- Payments by Booking.com: FAQs
- Understanding Payments by Booking.com
- How much Payments by Booking.com costs
- Everything you need to know about virtual credit cards
- Refunding virtual credit cards (VCCs)
- Understanding when your virtual credit cards are activated
- Card validation and fee collection solution
- Card validation and fee collection solution for connected partners
- US Payments Ranking Benefit: how extra visibility in search results works for US properties using Payments by Booking.com
- Booking Holdings Financial Services
- Activating and processing payments with Booking Holdings Financial Services
- Identifying and verifying property owners for Booking Holdings Financial Services
- Submitting a complaint about Booking Holdings Financial Services
- FAQ: Booking Holdings Financial Services
- Booking Holdings Financial Services Payments Agreement
- Payments FAQs for property management companies in the US and Canada