We frequently get asked about how payments work with trailer rentals on Trailer Link. We’ve simplified the payment process by allowing trailer renters to pay with their credit card. It’s that simple. Once a payment is made, funds are sent directly to the trailer provider’s bank account, less transaction fees. The fees are those fee charged by the credit card plus a mark-up for the service of Trailer Link.
This opens up the trailer rental marketplace to more renters and trailer providers across Canada. A larger market means Trailer Link reaches a national audience for trailer rentals. A credit card payment system lowers transactional costs and means a company with one or two surplus trailers can put them into the marketplace at very low administrative cost.
Our goal is to allow both renters and rental providers to interact cheaply and efficiently without worrying about receivables. This will help build the biggest market that trailer rental providers can service.
Does a trailer renter always pay up-front?
Yes. For example, if a trailer is rented for 3 months on Trailer Link we bill the first two months up front. The third month is billed on the first day of the second month. By staying ahead and authorizing transactions ahead of time we can continue to support a no credit check rental model. Details on the exact date on which you will be billed is available.
How are trailer rental payments processed?
Trailer Link uses Stripe – the same payments platform used by Lyft and Instacart. Stripe is a global leader in payments technology. Using Stripe means Trailer Link can link with all of the Canadian banks, major credit card companies. It even means that rental providers can accept new payment methods like Apple Pay.
How do I start using the Credit Card service and sign up with Stripe?
Trailer renters can get started immediately after you become a registered member of Trailer Link.
Rental providers will securely add their bank information as a part of registration to start accepting payments. From there, rental providers can view request for quotes, see their payouts and signup to get instant quote request notifications
Once you start using Trailer Link and complete a transaction to rent a trailer, you will be prompted for standard payment information before selecting a final quote.
Please note that there is no fee charged for requesting a quote. Placing a trailer rental request for quotes is free!
As always, if you have any questions about payments or anything else trailer rental related don’t hesitate to contact us