As you are aware, Poptop will now start to take deposits from the client, through our platform. We have now planned to make this release for the 1st of August. The aim of this article is to follow-up to our recent blog post, and answer further questions that suppliers have been querying.
Firstly, we would like to assure you, that there is nothing to worry about here, and we are going to make this change work. We are building a platform as user-friendly as possible, and this is a step in the right direction.
Please, read the following Q & A regarding suppliers concerns on the release of online deposits. Again, any further feedback, please make sure to leave a comment on this matter and we will respond ASAP. We are building this platform together, so any improvements you can think of, please let us know.
Q.Will the client be paying the deposit without reading my very own T & C’s?
A.No, we have added a feature where you will be able to add your very own terms and conditions on the platform. You can put in as many details as possible in your T & Cs. The client will be able to view these terms and conditions and will be giving consent to these when paying the deposit. In your T & C, you can state when the remaining amount is due if a deposit is refundable, etc.
Q.Will I get a copy of the deposit invoice you are sending to the client for my own accounts?
A. Yes, we will be sending you a copy of the invoice. On this invoice we will include the total amount of the deposit, also, we will include the 7% booking fee plus VAT that we have deducted. These can be used for your own account records.
Q.How long will the client be getting to pay our deposit?
A.Once the client selects “book now” we will direct the client to pay the deposit immediately. If the client does not choose to pay the deposit instantly, we will be sending regular reminders. Once the deposit is paid by the client, you will either have the option to “decline” or “confirm” the booking. If you choose to confirm we will be releasing the deposit to you immediately.
If the supplier does not confirm the booking within 7 days, we will cancel the booking, and return the deposit to the client. We will be sending regular reminders to you to confirm the booking.
Q.What will happen if the booking is canceled by the client?
A. In this case, if the deposit is non-refundable, we will keep the booking fee as our transactional cost if the client cancels, and the deposit (if you set one) that was paid to yourself would also be kept by you. If the deposit was refundable this would be refunded to the client, unless the client canceled within the time frame you placed it would no longer be refundable i.e 14 days pre-event.
Q. What will happen if I cancel a booking?
A. If you cancel the booking which had a deposit paid by the client we would refund this to the client, whether this was refundable or non-refundable. This is the same for our booking fee. This information is stated in our terms and conditions. If you set a deposit higher than our fee, we will need you to refund the deposit to us, and we will make full transaction back to the client. You will receive an email notification with the details of this upon cancellation.
Q.Will I be made aware of when I can expect the deposit in my bank?
A. Yes, we will be keeping you updated frequently. For example, we will be sending email notifications when:
- Received a booking via POPTOP
- A client has paid a deposit
- Reminder to confirm the booking to accept the deposit
- Email confirmation that deposit has been released to your bank account
- Invoice copy of deposit and booking fee we have deducted
Q.Why would I want a 3rd party holding my money and bank information?
A. There will be no holding of funds. As soon as the supplier confirms the booking we will be transferring the deposit with immediate effect to the bank details the supplier has specified.
Q.How will this lead to less booking cancellations?
A. We’ve consulted our partners from the U.S. and Europe and from their experience, the amount of cancellations after the similar system was implemented has reduced by 43% on their side. Giving a way for a client to complete the transaction ASAP without being destructed for other options is extremely important. The client will be directed to pay the deposit immediately, after selecting “Book Now”.
Q. Are you taking the full amount?
A.No, we are only dealing with deposit payments. After you have received the deposit form the client, the control is in your hands regarding the remaining amount. This can be specified in your T&C on when you want the remaining amount.
Q.Will I be able to opt out of this option?
A. Unfortunately, there is no option to opt out. All suppliers will have to abide by our new booking process. This may lead to the suspension of your account.
Q.When do you plan to switch over to online deposits?
A. We plan to make this change on the 16th of July. We will keep you updated every step of the way, we want to make this transition as smooth as possible for you.
Q.How can I upload my bank details?
A. We are roughly around 5 weeks from releasing our online deposits. There will be a tab on your supplier dashboard where you can upload your bank details in time. If you have not uploaded your bank details, and a booking is confirmed by a client, we will direct you to submit your bank details so we can release deposit.
We will be releasing further campaigns, in the coming weeks, for suppliers to upload your bank details. Having your bank details updated ASAP will make the booking process smoother for both clients and suppliers. This means once you receive and confirm your first booking after the new update, we can transfer the deposit with immediate effect.
Please, if you have any further questions, please email our supplier specialist firstname.lastname@example.org.