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 available to some guests booking spaces in the U.S. While this has not yet been rolled out as an official feature for all of our users, you may see the option for Split Payments at checkout. 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):
- 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 booking made through a custom offer upon acceptance. This payment method is also not available for bookings paid with Peerspace credits.
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.