Understanding Payment Modes When setting up your inventory's cancellation policy and payment rules, you can choose between two main payment modes:
- Reserved Now & Pay Later (Installments): This allows customers to pay a deposit upfront to secure their booking and pay the remaining balance later. This is often the preferred option for typical travel experiences!
- Full Payment Required (Upfront): Customers are required to pay 100% of the total cost at the time of booking.
How Payment Modes Are Displayed To optimize the booking setup process, Tourmatic dynamically orders the payment options based on the type of inventory you are creating:
- For Standard Experiences: The "Reserved Now & Pay Later" (Installments) option is highly recommended and will now be displayed first. This encourages more bookings by lowering the upfront cost for travelers. The "Full Payment Required" option is available right next to it.
- For Non-Experience Inventory: The "Collect 100% Upfront" option will be displayed first as the default primary choice, followed by the "Payment Schedule (Installments)" option.
Steps to Configure:
- Navigate to the Inventory section in your Tourmatic dashboard.
- Select the inventory item you wish to edit and go to the Setup tab.
- Scroll down to the Cancellation Policy / Payment Mode section.
- Choose the option that best fits your business needs.
- If you select Reserved Now & Pay Later, you can further define the Deposit percentage, Cancellation Period (when the final balance is automatically calculated and due), and the Deposit Refund Policy (e.g., Strict, Cooling-off, or Flexible).
- Click Save to apply your changes.
If you have any questions, feel free to reach out to our support team!