Help! They know they are going to lose their business because soon or later HomeAway will migrate everyone over to HomeAway payment. Whatever Yapstone is able to get, they are getting it now before the whole pie is gone. An additional 3% on top of regular 3%, not even mentions the international fee, is a ripped off.
Please please HomeAway do something. How can I get VRBO payments now?
even Airbnb does not do that. I pay 5% for payments 60 days out (vs normal 3%) BUT for that 5% I am at least not dealing with chargebacks and bad credit cards. So someone (vrbo? yapstone? both?) wants 1% more. For what? are they now a money lending service, like cash-by-phone or other shady operation? Are they all of a sudden a bank? Is there a lawyer among us, how is this even legal? I think they are flying under radar now because regulators have not yet caught a wind of Expedia becoming a bank and holding people's money. Once they do, watch out.
I mean, I wish vrbo just came out with a honest and open statement saying "we do not want your business anymore; get lost". Instead they have been boiling us for last 3.5 years like that proverbial frog. One day this house of cards will crumble...
There's a backstory to this that we are not privy to (and won't be made privy to). I don't know what the contract between HomeAway and Yapstone says. HomeAway must be a big customer of Yapstone, however, and big customers usually have a lot of leverage in negotiating contracts. I presume that there is a clause in the contract between Yapstone and HomeAway that specifies what percentage Yapstone can charge HomeAway customers. I also presume that there's a clause that says that Yapstone cannot change that percentage without HomeAway's consent. If there are no such provisions in the contract, whomever negotiated the contract on behalf of HomeAway committed a gross oversight.
So ... I see two possible scenarios:
Scenario #1 - There's no clause in Yapstone's contract with HomeAway that prevents Yapstone from unilaterally raising the rate that it charges HomeAway customers to process their credit card transactions. Yapstone knows it will be losing all of the HomeAway business at some point in the not-to-distant future, most likely by the end of 2019. Yapstone figures that it might as well "burn its bridges" and make as much money as it can from HomeAway customers in the remaining four months.
Scenario #2 - There is a clause in Yapstone's contract with HomeAway that requires HomeAway's consent for Yapstone to raise the rates it charges to process the HomeAway credit card transactions. If this is the case, then HomeAway has given its consent to the rate increase. HomeAway is trying to get its vacation rental owners to voluntarily switch over to the new HomeAway payments platform. Yapstone raising its rates for owners to continue to receive "advance payments" is certainly a big incentive for more owners to switch to the new HomeAway in-house payment platform. I also assume that HomeAway receives some percentage of what Yapstone makes from its HomeAway business. So, if HomeAway's owner-customers pay Yapstone more money to process their credit card transactions, presumably HomeAway will make more money from them as well. From HomeAway's perspective, this is a "win-win" situation.
My "vote" goes to Scenario #2.
Vrbo has been working on upgrading our payment platform and are now offering this service in the US. We are migrating accounts in phases based on when certain features are available. If you are interested in being one of the first to migrate to our payment platform, I can send you a link to accept the payment terms. Once migrated, we will notify you. After you have migrated, you will be prompted to add your bank account details so you can receive payouts on new bookings. By upgrading your payment account, you can benefit from:
• A flat 3% processing fee and no surcharges
• World-class fraud prevention
• Expert 24/7 support from our team with no transfers to third parties
• New reporting tools that make tracking payouts easier
Just reply here with your listing brand and I will send you a link.
wow then really no reason, not to move over to Air BnB now....
Not a "move over" scenario for me. I am on ALL the platforms including Airbnb. AirBNB simply does not fill the calendar by itself. I get anywhere from 10% to at most 25% of bookings a year from it, and it does not seem to be growing compared to last year.
Remember my previous thread linked below? The Devil is in the Details: read below "provided however..."
Check In Payments: Subject to bank processing delays and any fraud or risk holds imposed by YapStone, You will receive the Guest’s Payment (minus Fees) in Your or Payee’s bank account, as instructed by You, within 2-3 business days, of the day after the scheduled check-in date for the Guest at Your Property; provided however, in the event a Guest provides proper notice to the website that the Property was booked through within 24 hours of the scheduled check in that the Property is not as described, or there is some other issue with the Property, You authorize YapStone to return the Payment to the Guest. In addition, for risk and fraud reasons, YapStone will generally hold all disbursements scheduled to occur within the 30 days after Your first scheduled successful check-in date.
How about on-time payments. I am sorry but Expedia sitting on money due owner for 6-12 months is not a good idea. Sure TripAdvisor does it, but I get TWO bookings a year from TA and I do not have my calendar open more than 120 days out on that platform. is Expedia vying to become TA and only book TWO reservations per year for me?
I am lost. Please address the following questions to help me understand this new Yapstone notice and the payment situation:
1. According to the Yapstone notice, I now will not receive any payments at all until check-in?
2. So, if I have my listing set up for the guest to pay half at booking and the remainder 30 days in advance of check-in, I still receive no payment until check-in?
3. But, if I pay an addtional 3%, which means meaning a total of 6% for processing payment, I can get paid within days of the guest making a payment like I have been?
4. If someone books my condo in January for a stay in June, I receive nothing until check-in in June?
5. At some point, HA/VRBO will take over payment procesing, but I still will not receive payments until check-in?
Thank you in advance for your help. This whole situation is baffling.