Car rental business is entirely different from selling goods or services online. For example, if you sell a service like mobile car fixing, you fix the car, and you get paid, but when it comes to car rentals, you are providing a service, but you are also giving a valuable tangible asset to the client as well. In this case, the deal can go in many ways; the car can be damaged, the car can be subjected to traffic fines and tolls, or simply the client can keep the car for a longer time. In all these cases the client needs to pay you more. What would you do in such a scenario? MyRidePay understands your dilemma and wants to provide an option where you can settle all such amounts without disturbing the clients. If you have any unsettled amount with the client, with tokenization, you can log in to your MyRidePay account and charge the client with the due amount, sending them the receipt.
Tokenization is the process of receiving money from clients through a safer medium. It is much safer then end to end encryption, and it is fully compliant with the Payment Card Industry Data Security Standard (PCI DSS).