Car Rental Business is one of the competitive and tricky businesses. As a car rental operator, sometimes you need to take risks and strategic decisions to beat other competitors in the market. Accepting Debit card and cash from the customers is one of these decisions.
If you are also planning to rent your vehicles with a debit card or cash, then it is very important to keep concern on some important factors. Most of the car rental companies do not accept debit cards for the payment so if you can apply a secure and protected method for Debit card payment, you can turn those debit card customers to your side.
Debit Card Payment for Car Rental Companies
Here are some of the most important points to know before renting a car on the debit card payment-
Security Deposit –
Whenever you accept a debit card, you take a risk. You can decrease that risk by a security deposit. Always take a deposit in advance as a security in case of the debit card. Always make sure that you have enough money to cover security deposit and payment.
Identity Verification –
It is very important to verify the customer properly before renting a car on a debit card. Always check the logos on the card and accept only those debit cards which are linked to a believed bank. Ask for all valid documents for identity proof and cross verify them.
Besides card and identity proof, a valid driving license with some years of experience is also important to secure and protect the rental.
Card Options –
As a rental car operator, you should always look for the card submitted by the customer. You cannot accept a debit card without any verification just because it’s a debit card. Always check the bank account of the debit card, proper logos on the card. Make sure that you can get the money from the card easily.
By considering these points, you can increase the rental sales for your business. Whenever you find something not convincing about the documents submitted by the customer, never rent the car. Caution is always mandatory to protect your business from frauds and fake deals.
Keep in touch with us for more details and information on the rental car industry. You can easily manage your car rental business by using our software MyRent Car Rental management system. For more details and queries, contact us.