Payment Policy

At LokalRents Marketplace, we aim to provide flexible and secure payment options for renters and rental shops. This Payment Policy outlines the methods available and the responsibilities of each party involved.

1. Accepted Payment Methods

We currently support two types of payment methods for booking rentals:

a. Online Payment via PayMongo

• Renters may pay securely online using credit/debit cards, GCash, Maya, or other e-wallets supported by PayMongo.
• Payment is processed immediately upon checkout.
• A confirmation receipt is sent via email after successful payment.
• In the event of cancellation (subject to each rental shop’s cancellation policy), refunds will be processed in accordance with our Refund Policy and may take 5–15 business days depending on the payment method used.

b. Direct Payment to Rental Shop

• Renters may choose to pay directly to the rental shop using the following options:
  • Cash on Delivery (COD) – Payment is made upon delivery of the rented item(s).
  • Cash on Pick-Up – Payment is made when the renter picks up the item(s) at the rental shop.
• Payment confirmation and any receipt issuance will be handled by the rental shop.
• LokalRents Marketplace is not liable for disputes regarding payments made directly to rental shops. We recommend that both parties document the transaction and communicate clearly regarding terms.

2. Service Fees

• For PayMongo transactions, a standard service fee is included in the checkout total.
• No platform service fee is collected for direct payments. However, rental shops may set their own charges for delivery or late returns.

3. Responsibility and Dispute Handling

• PayMongo Transactions: LokalRents will assist with payment disputes, transaction history, and refund processing where applicable.
• Direct Payments: Rental shops are responsible for resolving any payment issues directly with renters. LokalRents may offer mediation but holds no financial responsibility.

4. Fraud Prevention

• Transactions via PayMongo are encrypted and PCI-DSS compliant.
• Any suspicious activity may result in order cancellation or temporary suspension of accounts.

For more info regarding PayMongo payment please visit PayMongo Privacy Policy 

By using LokalRents Marketplace, all users agree to comply with this Payment Policy.