Movatic allows you to set an amount to be held (or authorized) on a user's credit card, to act as security for the rental. The amount is not actually charged, but is ringfenced and guaranteed by the user's bank, so the user does not have access to it while it is held. In a sense, it guarantees a minimum amount of money to be available to pay at the end of the rental. A rental cannot start if a hold has been set, but could not be made (e.g. the user did not have enough money in their account).
You can set the hold amount in four different places:
- 1.On the Partner as a whole.
- 2.On the System as a whole.
- 3.On a rental rate.
- 4.On a membership.
Hold amounts set lower down the list take priority - so if your System hold amount is $20, but a particular membership has a hold amount of $10, users with that membership will be subject to a $10 hold.
If the hold amount is left blank in any of these places, then rentals will use the amount set above in the list. If no hold amount is set at all, then no hold will be required or made.
The credit card hold is set as a currency amount
- You set a hold amount of $20 on a rental rate.
- You create a membership, but you do not set a hold amount.
- A user with the membership makes a rental.
- $20 is reserved on their credit card.
- This is because the membership hold amount is blank, so the system uses the amount set in the rental rate.
At the end of the rental, one of several things can happen:
- If the total rental cost is more than the hold, after any membership discounts or wallet credit:
- We attempt to charge the user's card for the full rental cost.
- If this is successful, the hold is cancelled.
- If this is not successful, the hold is captured and the customer will owe the remaining amount. In this case, the users account will be put into a delinquent state.
- If the total rental cost is exactly the same as the hold, after any membership discounts or wallet credit:
- We capture the full hold amount.
- If the total rental cost is less than the hold, after any membership discounts or wallet credit:
- The rental cost will be captured from the hold, and the remainder cancelled.
- When a user attempts to make a rental, the system first checks if they meet the minimum wallet balance. If they do, the credit card hold rules will not be applied.
NOTE: If you set the minimum wallet balance to 0, any user that has at least 0 in their wallet balance does not need a credit card hold.
If you leave the minimum wallet balance blank, this will be saved to "Not set" and the credit card hold rules will be applied.
- If the user does not meet the minimum wallet balance, the credit card hold rules will be applied.