Payment terms let you offer guests the option, at no additional cost, to pay in up to three installments. This can help you improve conversions especially on large bookings and long lead times. Read more about how payment terms work.
Guests always have the option to pay in one upfront payment, if they prefer. When they select to make multiple payments, Hospitable will automatically capture the funds according to the payment schedule.
Align payment terms with your cancellation policy,
Set a custom payment schedule, or
Guests always pay 100% upfront (ie. disable payment terms)
We recommend the first option as it saves you the hassle of setting a schedule and it ensures Hospitable collects payments in time to fund the non-refundable portion of your cancellation policy.
You are also required to add a grace period which is the period when payment will be retried and cancelled at its end if collection is unsuccessful.
An important note: we can only offer guests the option to make multiple payments if you have a cancellation policy with sufficiently spaced refundable checkpoints.
Altering Bookings on Payment Terms
When altering a booking, payment terms will be handled as follows:
If the check-in date changes or the alteration results in a refund, we will automatically remove any existing payment terms. The remaining balance will be collected immediately.
In all other cases, we will keep the payment terms as they are and only collect any gap to the next scheduled payment.
This ensures that your payments are adjusted accordingly based on the nature of the booking alteration.
Cancelling and Refunding Bookings on Payment Terms
Once a booking is fully paid, the refunds and cancellations are treated the same way as other bookings, aligned to your cancellation policies. You may cancel a booking at any time even when the entire amount is not yet collected to stop the next payments.
When a payment fails, we retry collecting it within your set Grace Period. When it ends and payment is not collected, we will process a refund based on your booking cancellation policy.
The guest will not receive a full refund of what was initially paid if your policy at the time of cancellation does not allow it. You can process a cancellation as a host to bypass the set cancellation policy and provide a 100% refund.