Car rental companies: Take these POS measures

Car rental companies may see a large amount of customers come and go in a short period of time. As with many Point of Sale businesses, the faster a company can process each request, the better the customer satisfaction and possible ROI. Business owners need to ask themselves the question: are we using an efficient POS card processing system?

It's important to remember the vast amount of functions a great POS might be able to assist with. An up-to-date model can help rental places seamlessly update their inventory as transactions are made, as well as manage intricate customer requests. With timing such a crucial factor in rentals, more sophisticated options may be needed to properly meet company goals.

There are also existing standards to remember. Visa highlights appropriate practices in its "Acceptance Guide for the Car Rental Industry." One of the many points addressed in the report highlights how staff should respond to additional charges that arise after a customer's initial payment. In this instance, special procedures may be necessary.

"Car rental agencies may not use a Visa product to process delayed or amended charges related to car loss, and/or theft, damages, unless the car rental company reserves express agreement to the specific charges from the cardholder," the report states. Instead, it advises companies to "authorize and deposit a separate or amended car rental sales agreement" and then mail it to the customer.This can apply specifically to "fuel, taxes, mileage, maintenance, or rental fees."

While there are similarities that make a credit card processing program appropriate, rental companies can take time before purchasing this system to prepare for the types of transactions their POS locations will see. This means imagining the ideal response to even unlikely situations.

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