At checkout, Peerspace now offers two different options for paying for your booking in installments: Klarna or Pay part now, Pay part later (split payments).
Split Payments: (US Only)
Split payments is a payment process that allows a user to pay for half of a booking up front and the remainder at a later date, before the booking begins.
Currently, it is only available for guests booking spaces in the U.S. Please see below for restrictions on utilizing this payment method.
To select split payments, select the “Pay part now, pay part later” option during the checkout process if this option is presented to you.
Is there a fee for using split payments?
Peerspace charges a $10 USD fee for the use of split payments.
What is the payment schedule?
Once a host accepts your booking request, you’ll be charged 50% of the booking subtotal, applicable processing fees, and the split payments fee.
The second charge happens before the booking start date and is based on the cancellation policy the booking was made under:
Very Flexible & Flexible - 3 days before event start date
Standard 30 - 9 days before event start date
Standard 90 - 16 days before event start date
What bookings are eligible for split payments?
Any US based request via a standard or Instant Booking will be able to use split payment. However, the availability of this feature is dependent on the cancellation policy for the booking (please see below for schedule): Additionally, the split payment option is only available when the booking is initiated via a standard guest request and accepted by the host without modifications or conversions into a custom offer.
Very Flexible & Flexible - Booking must be 4 or more days in advance
Standard 30 - Booking must be 10 or more days in advance
Standard 90 - Booking must be 17 or more days in advance
*Please note, bookings made through custom offers are not eligible for split payments. Full deposit is required for bookings made through a custom offer upon acceptance. This payment method is also not available for bookings paid with Peerspace credits. This ensures there are no constraints or modifications to affect the ability to select 'Pay part now, pay part later' at checkout. Payments involving Peerspace credits directly deduct from the available balance, bypassing the conditions required for a split payment.
Troubleshooting: Why Split Payment May Not Be Visible If the split payment option does not appear at checkout, here are some possible reasons and their resolutions:
Custom Offer Received from Host: Split payment is incompatible with custom offers. To use this feature, decline the custom offer and reapply using a standard booking request with a note indicating your preference for split payment.
Resubmitting a Booking Request: If multiple invites or offers have been sent, submit an unmodified regular booking request and request the host to accept it as-is.
After Booking Confirmation: Split payment settings cannot be changed after confirming a booking. To enable it, consider canceling the booking under the cancellation policy and rebooking with split payment selected at checkout.
What happens if I need to update my booking after the first payment but before the booking start time?
If the booking update results in an increase of price, you will be charged for the increased price at the time of the update. Your final payment will remain to be charged at the scheduled date. Similarly, if the update is just for a reduced price, your final payment will be reduced to account for this new total and remain to be charged on its scheduled date.
If the booking update results in a change of date that is sooner than originally booked, this may result in full payment being due at the time of update if your final payment would have already been due, given the new date + cancellation policy on the booking (see above sections for payment schedule details).
Alternatively, if the booking update results in a change of date that is later than originally booked, your scheduled payment will simply be rescheduled to a further date per payment schedule seen above.
What if I need to cancel my booking?
If you need to cancel your booking made with split payments, any potential refund would be based on the listing cancellation policy the booking was made under.
What happens if the second charge fails?
Not to worry! Things happen. In the event the second charge fails, you will receive an email informing you of the failure, as well as the opportunity to re-try the card on file or add a new card and attempt the charge again. You can make as many new attempts as you need until the second charge is captured. Please note, you will have 47 hours from the time of the first failure to capture the charge before your booking is canceled.
In the event we are unable to capture the charge before the deadline, the booking will be canceled and any potential refund amount will be dictated by the listing cancellation policy at the time of booking. You can review the full Cancellation and Refund Policy here.
Klarna
Klarna is a "buy now, pay later" service that allows you to pay for your purchases over time. This feature is available to all users through the guest checkout flow, regardless of location or how soon your booking is. This is not currently available with custom offers.
What are payment plan options?
Payment plan options vary depending on how high your total is. By default you are offered a payment plan of 4 payments taken every 2 weeks, without interest. However, other options can come available such as monthly payments across 6 months, 12 months, etc.
Does Klarna charge interest?
Klarna may charge interest depending on the payment option you have selected. This fee will always be made clear during your checkout with Klarna
When is the first payment due?
First payment is always due at time of purchase/confirmation. You will need to successfully complete that first payment before you are able to proceed with submitting your booking request.
Can I use Peerspace credit and Klarna?
No, Peerspace credit cannot be applied towards a Klarna payment.
What happens if I update my booking?
If the update for your booking comes at a higher cost, you will be forced to pay the difference at the time of the update. Your Klarna payments will remain the same.
If the update for your booking comes at a lower cost, your Klarna payments will be adjusted to reflect the new lower total, across the remainder of your payments due.
How do refunds work with Klarna?
Peerspace communicates the refund you are eligible for to Klarna, and Klarna processes any refunds necessary based on what you have & have not paid thus far. For the exact timeline, we advise reaching out directly to Klarna.
How do I keep track of my Klarna payments?
When using Klarna, you will be forced to make an account with Klarna. You can then track your payments (completed & upcoming) by logging into that account. Please note, you will not be able to see this in your Peerspace account - your booking will show as paid in full.
What payment methods can I use with Klarna?
Currently Klarna accepts: Visa, Mastercard, and Discover. AMEX is not accepted.