In RentalWise, you can manage payments through two methods: Online Payment Providers (such as Stripe) and Manual Payment Methods (like Bank Transfer, Cheque, or Cash).
Why Set Up Stripe?
Setting up a Stripe account is essential for several reasons:
Website Generator: If you're using RentalWise's Website Generator to increase direct bookings, Stripe will allow you to process payments without additional fees.
VRBO Distribution: Unlike other major OTAs (e.g., Airbnb, Booking.com), where payments are handled by the platform, on VRBO, you are your own Merchant of Record. This means having a Stripe account is mandatory to receive payments directly from your guests.
To accommodate your financial needs, each legal entity within your RentalWise account can have its own Stripe account. Learn more about Legal Entities here.
How to Connect Your Stripe Account
Follow these three simple steps to connect your Stripe account and start receiving payments:
Access Settings
On the left-hand menu, click on Settings.
Select Payment Methods
Within the settings, click on Payment Methods
.
Connect Stripe
Under Online Payment Providers, click on Connect Payment Provider. This will initiate an automated process to connect your Stripe account. You can connect as many Stripe accounts as needed, depending on the number of legal entities you have.
By following these steps, you’ll be able to seamlessly integrate Stripe into your RentalWise account, enabling smooth and efficient payment processing for your bookings.
Quick Note: Check Stripe's Global availability here