How does the payment process work on SpinLister?

The payment process on SpinLister is designed to be secure and straightforward for both renters and listers. When a customer decides to rent a bike or any other item listed on the platform, they initiate the booking by selecting the desired rental period and agreeing to the terms provided by the lister. The payment is then processed through SpinLister's platform, which typically involves entering payment details, such as credit card information. Once the booking is confirmed, the payment may be held in escrow until the rental period begins. This means the funds are securely kept by SpinLister until both the lister and the renter have confirmed that the transaction is ready to proceed. This escrow system provides added safety and assurance for both parties. During the rental period, the renter is responsible for the item and must ensure its return in the condition it was received. If any issues arise, such as damage or theft, the lister may report these concerns through the platform. After the rental is successfully completed, the payment is released to the lister, minus any applicable fees charged by SpinLister for the transaction. It is advisable for both renters and listers to review the latest information regarding payment policies, as these may be updated from time to time on the SpinLister website.