Payment security & industry-specific solutions

by Eliisa L.

20 May 2020
0 Comments

We’ve all heard of the horrendous effects which poor safety measures and data breaches have on businesses, from Adobe’s data breach in 2013 which compromised 38 million users’ information, to Home Depot’s data breach in 2014 which cost them $179 million dollars. Since we want to offer the best service and safest product, this has led us to take extra steps in ensuring your, and your customers’ payment security.

Currently, Rentle is able to promise you safe payment processes all over Europe, with North America being in the works. It means that your shop can accept online payments, charge and release deposits and possible after charges safely, without a risk that your customers' payment details get in to wrong hands due to a security fail at your end. 

This is possible because the actual payment card details are never stored in your systems, which limits your risk and regulatory scope. Our objective is not only to create the best tech and tools in order to run a successful rent shop but to also remove all friction on an industrial level by providing industry-specific payment solutions. More on how we’re planning to do that later in the post.

Ensuring the safety of your money and information

We are voluntarily compliant with PCI-DSS as a level 1 service provider. PCI-DSS, short for Payment Card Industry Data Security Standard, is one of the strictest organizational security standards in financial technology. 

Without getting into the specifics, it basically means that we as a company are annually audited by a third-party security specialist, making sure our activities and transactions are up to their standards.  

Payment security is a matter we take particularly seriously, which is why in addition to the PCI-DSS we have partnered up with an industry-leading payment processing provider. This way we can ensure that our clients’ and their customers’ payments and information are safe.

Our partners

We work with Adyen for payment processing. They’re the only payments platform that fully supports unified commerce — POS, e-commerce, fraud prevention, and customer data — for an uninterrupted payment experience.

With Adyen, we are able to provide smooth payment transactions, without having any sensitive credit card information entered into our system. We trust their security and technology, and just like eBay, Uber, KLM and Etsy - we find them extremely reliable.

 

In other words...

We, or you, never attain or store any credit card information. By being a PCI-DSS certified payment provider, we are making sure your and your customers’ data are secured. 

 

What's next?

Currently, the most common payment method providers are not able to offer specialized features for rental shops since their products are designed for traditional commerce and retailing, rather than renting. 

In comparison to other payment service providers, Rentle is more embedded and integrated into the shop, meaning that we’re focused on supporting the rental shops’ needs when it comes to payments. We are continuously developing our product in order to provide our customers with the previously mentioned industry-specific payment solutions. In the infographic below, you can see all of the different features that the rental industry can benefit from. 

Rental industry-specific payment solutions

While transactions such as payments, refunds, and receipts are already available, in the near future we will also be able to provide support for deposits in connection with the orders. Through the deposits, your customer's credit card is only pre-authorized instead of making an actual charge from the customer's credit card. While this improves the customer experience by ensuring the refunded deposit is immediately available after the equipment have been returned, shifting part of the risk to the customer ensures that in case the gear is somehow damaged or lost, you're not the only one who pays the bill.

Support

Our team is always here to help and answer any questions regarding the safety of your payments. If you have any concerns or questions, don’t hesitate to shoot us a message through our chat or emailing to info@rentle.io.

Eliisa L.

The storyteller that spends her time in the studio, outdoors, or creating the best, most relevant content for rental shops.

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