Wallets, Wallets

Posted on
February 5, 2020
by
Victor

As an operator, you need to get paid! The current version of Spring puts a hold on the riders card for configurable amount and then charges the card at the end of the ride. Riders pay for each-ride one at a time.

Today, you can enable a wallet in your app. A wallet lets riders top up their balance and then debit their balance to pay for the ride.

Here's what's great about the wallet:

  • Reduced credit card fees
  • Minimum balance
  • Credits and fines to a rider's balance

Reduced Credit Card Fees

Stripe charges credit card fees of 30 cents + 2.9%. On a short ride that costs $3, these fees add up to 38.7 cents or 12.9% — that's a lot of money!

On a $20 top-up, the fee is 88 cents or 4.4%. That cuts your credit card fees by 1/3.

Minimum Balance

This update allows you to set a minimum balance that a rider needs to have before starting a ride.

A minimum balance helps reduce fraud and ensure you get paid.

Credits and Fines to a Rider's Balance

The wallet gives your customer support team more flexibility. If you want to give the rider a credit, say they have a bad ride or they recruited 5 other riders, you can add credit to their balance on the admin dashboard.

You can also use this tool to fine a rider if they vandalize your vehicle or park in an unauthorized area.

Coming Soon

  • Auto-reloading
  • Hourly / daily pricing
  • Incentives for larger top ups

Ready to kick start your business?

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