13 Payment Methods That Will Boost Your Turo Bookings

As a Turo host, one of the most important factors in attracting more renters and increasing bookings is providing flexible payment options. Your potential customers will appreciate being able to pay through methods that are most convenient for them. In this article, we will outline 13 different payment methods you can accept as a host to boost your Turo bookings. For each option, we’ll explain what it is, how it works, and tips for optimizing it on your host profile.

For those unfamiliar, Turo is a peer-to-peer car sharing platform where private vehicle owners can list their cars and rent them out to others in their local area. It operates similar to services like Airbnb for houses or rooms, but focuses specifically on personal vehicle rentals. As more people are looking for alternatives to traditional car rental companies, Turo has grown rapidly in popularity in recent years.

As a host, one of the most important factors in getting discovered by renters and being selected for reservations is optimizing your profile. This includes high quality photos of your vehicle, detailed descriptions, and positive reviews. However, another crucial component is clearly outlining your payment policies. Customers want the flexibility and convenience to pay through methods that work best for their individual situations and budgets. Providing a variety of accepted payment options is key to attracting more bookers.

In this comprehensive guide, we will go over 13 specific payment methods that Turo hosts can accept to boost their booking numbers. For each one, we’ll explain what it is, how it works on both the host and renter side, and tips for optimizing that option on your host profile page. The goal is to give you a detailed roadmap for opening yourself up to the widest possible customer base by making the payment process as simple and frictionless as possible. So let’s get started!

1. Credit Cards

When it comes to online payments, credit cards are still the most popular and widely accepted option. The majority of Turo renters will be paying with some type of credit card, whether it’s Visa, Mastercard, American Express, or Discover. As a host, it’s imperative that you clearly list on your profile which specific cards you take.

There are a few things to keep in mind when accepting credit cards on Turo:

Turo handles all card transaction processing through their platform, so you don’t need a merchant account. They take a standard 20-25% service fee.
Make sure to list all the major cards you accept – Visa, Mastercard, etc. Spell them out fully rather than generic “credit cards.”
Consider also specifying if you accept debit cards. Some treat them the same as credit but not all hosts do.
Double check that the name on the card matches the renter’s ID for security purposes during pickup.
Get renter’s signature on the rental agreement as final authorization for the charge.

By making credit card acceptance clear and simple on your profile, you open yourself up to the biggest pool of potential renters on the platform. Just keep in mind Turo’s standard fees apply to all card transactions.

2. Debit Cards

Debit cards are similar payment instruments to credit cards but draw directly from the renter’s linked bank account, rather than offering revolving credit lines. As with credit cards, it’s worthwhile specifying on your profile if you accept debit payments from renters. Key things to note when processing debit cards on Turo:

Debit transactions still go through Turo’s payment system, so you don’t need a separate merchant account.
Be sure to clearly state you accept “Visa debit, Mastercard debit, etc” rather than assuming they are covered under a generic “credit cards” listing.
You may want to consider charging a small refundable deposit for debit card rentals upfront in case of any issues requiring chargebacks later.
Again, double check ID matches name on card and obtain renter’s authorization signature before travel.
Be aware some debit cards have daily purchase limits renters need to be aware of before reserving.

By adding debit cards to your accepted payment options, you open up to customers who prefer that over credit, without much added effort on your end through Turo’s payment processing tools.

3. PayPal

PayPal has become a very popular online payment method due to its reputation for security and buyer/seller protection features. Many consumers appreciate using PayPal as it offers peace of mind. As a Turo host, accepting PayPal can potentially attract more security-conscious renters.

A few tips for including PayPal as a payment option:

Turo integrates directly with PayPal, so no need for a separate merchant account.
Clearly state you accept PayPal payments on your profile page.
Consider mentioning PayPal’s benefits like purchase protection for renters.
Payment will be processed through Turo like other cards, and you’ll receive payouts minus their standard service fee.
Double check renter’s name matches PayPal account during pickup.

By enabling PayPal, you open up to that payment-wary demographic without any extra integration work. Just be aware of Turo’s standard service charge still applying. Checkout Zipprr Turo Clone.

4. Venmo

Owned by PayPal, Venmo has become enormously popular especially among younger consumers as a way to split costs and pay friends. Many Turo hosts have found success accepting Venmo payments as well.

Here’s how you can optimize Venmo on your Turo profile:

Clearly list “Venmo” as an accepted payment method right on your profile page.
Consider adding a note about how easy Venmo makes splitting trip costs for groups.
Payment will still process through Turo so no separate merchant account needed.
Double check renter’s name matches Venmo profile at pickup.
Turo service fees still apply as with other payment methods.

By embracing commonly used Venmo, you welcome renters comfortable with that casual payment experience without any extra platform integration work.

5. Apple Pay

Apple Pay has gained huge popularity since its 2014 launch as a simple, contactless way for iPhone users to pay both in stores and online through their device. As a host, accepting Apple Pay means you open up to that large base of iPhone owners. Here’s how to enable it:

Simply list “Apple Pay” on your payment methods section of the profile.
Consider noting the convenience of contactless payment right from their iPhone.
Renters will enter their Apple Pay info as normal during reservation.
Turo handles the transaction processing behind the scenes.
No need to take any special steps at pickup since it’s a digital payment.

By adding this single line to your profile, you potentially attract many Apple device-reliant customers without any integration work.

6. Google Pay

The Android equivalent to Apple Pay, Google Pay provides a similar contactless payment experience right from Android phones. Enabling it follows the same simple process:

List “Google Pay” as an accepted payment option on your profile page.
Highlight the convenience of paying directly from their Android device.
Renter enters Google Pay info during reservation like normal.
Turo handles transactions seamlessly in the background.
No special steps needed at pickup since it’s a digital payment method.

By enabling Google Pay support, you open up to the large base of Android users without any extra effort through Turo’s payment infrastructure.

7. Cash

While not as commonly used as digital options, cash is still an important payment method to accept, especially for renters without credit/debit cards. Here are tips for accommodating cash payments:

Clearly specify you accept cash on your listing, along with any deposits required.
Provide clear instructions on where to leave cash, such as in a lockbox or envelope at pickup location.
Get a signature from renter acknowledging receipt of cash and terms of the booking.
Consider offering a small discount for cash payments to incentivize if desired.
Carefully secure cash payments until you can deposit after their trip.

Keep in mind cash still requires more manual handling, but it expands your customer reach significantly to the unbanked.

8. Personal Checks

Personal checks aren’t used as widely anymore for purchases, but some renters may still prefer paying this way. Here are tips for accepting checks on Turo:

State you take personal checks and require they fully clear before travel dates.
Provide a physical address for mailing pre-trip checks to allow time to clear.
Consider a small fee such as $25 to cover potential bank processing costs.
At pickup, verify check has cleared and obtain renter’s signature.
Be prepared to deny trips if checks are still pending by travel dates.

Accepting checks involves more risk, but may appeal to some older renters without credit cards. Just factor in time for checks to clear.

9. Cash Deposit

For renters unable or unwilling to meet in person, requiring cash or check isn’t practical. A nice alternative is allowing pre-trip cash deposits:

Give clear deadlines for when the deposit must be made, like 5 days before travel.
Provide renter with a deposit receipt for their records and as proof.
Obtain their signature on paperwork at pickup acknowledging deposit.
Only release vehicle after verifying deposit has cleared your account.

This allows no-contact payments while still accepting cash. Just be sure to verify deposits within timelines.

10. Money Orders

Similar to cash deposits but sent through the mail, money orders can enable payments from renters unable to meet in advance. A few tips:

Specify you accept money orders mailed to your physical address by a certain pre-trip deadline.
Provide instructions to clearly write their name and trip dates on the order.
Inform renters that the vehicle won’t be released until the order fully clears.
Consider a small fee such as $5 to cover potential bank processing.
Verify the order and obtain renter’s signature at pickup.

This provides an easy no-contact payment option while still allowing cash-based transactions.

11. ACH Bank Transfer

For business travelers or those more financially established, direct bank transfers can be appealing. To enable it:

List on your profile that you accept ACH/wire transfers to your business bank account.
Provide the exact account and routing numbers required for the transfer.
Set a deadline of 3-5 days before travel for the transfer to be completed.
At pickup, confirm with your bank the funds have cleared before handing over keys.

Be aware bank transfers currently require manually confirming the clearance. But it opens up to more established renters.

12. Crypto Currencies

Some forward-thinking hosts have started accepting popular cryptocurrencies like Bitcoin as a payment method. A few notes if going this route:

Clearly state which coins you accept like BTC on your public profile.
Renter pays in crypto, you convert to fiat at your preferred exchange.
Note volatility risks to the renter paying in crypto pre-trip.
Consider discounting crypto rates to offset market fluctuations.
Have renter sign rental docs acknowledging crypto payment terms.

Crypto remains a niche option but expands your reach, just be transparent on conversion steps and volatility.

13. Third-Party Payment Services

Partnering sites like EasyTuro offer alternative payment processing options for a fee. They may cover:

Extended payment plans renters can pay over time.
Co-signed payments for under-25 renters through guarantors.
Ride-hailing style fractional payments spread over the rental.

Weigh if the convenience outweighs their service charges deducted from your payout. Just keep renter informed of the partner’s payment requirements.

Conclusion

In summary, offering a variety of flexible payment options is crucial to attracting more renters and maximizing your Turo bookings as a host. The methods we outlined here enable you to accommodate nearly any renter’s unique payment situation or preference without extensive effort through Turo’s integrated systems. Be sure to clearly communicate your payment policies and terms upfront on your host profile to set proper expectations. With the right options presented, you’ll significantly widen your potential customer reach on Turo. Implementing these payment process best practices should boost your reservations and overall hosting business.