All that we can offer you regarding the implementation of security deposits.

An overview of what currently exists for taking a security deposit in the context of a rental.

What is done by brands currently working with Lizee:

If the products are handed over to the customer in person, the two existing solutions are:

• Taking a security deposit by check:

Pros: No predefined duration, no computer lock, ease of returning the deposit if there is no damage.

Cons: Not all customers have a checkbook, the risk of forgetting to bring the checkbook on the day of the rental, action required to cash the checks.

• Taking a security deposit by Point of Sale Terminal (TPE):

Pros: Funds are transferred directly to your account without further action required.

Cons: Requires access to a security deposit program with a Point of Sale Terminal (TPE), often comes with a cost (for example, Stripe offers the Stripe Terminal option to accept payments via TPE), requires sellers to be proficient in the security deposit program via TPE, may lead to more reluctance on the part of customers to insert their credit card into the TPE and believe that they will not be charged?"

The banking imprint for brands in the Flex/Classic subscription

For product subscription models, Lizee has implemented a banking imprint system. You can find more explanations in this article: How does the banking imprint work for Flex/Classic subscription models?

What Lizee also offers:

It is possible to take a security deposit using other systems, and the list below is, of course, not exhaustive.

• Taking a security deposit with Stripe 

Pros: Free solution, easy to implement if you are using the Stripe banking solution for your rental service.

Cons: If the customer paid for their rental outside of Stripe, it requires manually entering the customer's payment method into the interface; maximum duration of the security deposit hold is 7 days (for credit card payments, see here for durations for payments with Afterpay, Cash App Pay, and Klarna).

Very specific case of free rentals as part of a marketing campaign

When a payment is €0 (using a promo code), a security deposit of €300 is automatically held for 7 days on the customer's account. Therefore, it is normal for the customer to provide their credit card information, and the presence of at least €300 is verified.