Cardoo may issue physical or virtual cards for deposit-related purposes.
The cards are issued in collaboration with a European bank with no country restriction when utilizing.
How are the cards issued?
The physical & virtual cards are issued by Cardoo Cyprus Ltd.
Strictly speaking, they are debit cards linked up with Cardoo's bank account. From the point of view of utilization, the cards fit all the common requirements of rental companies worldwide for authorising & charging deposits. So, it's fine to define them as "credit cards" in common speech.
If your car rental company only has one rental point, the cards can be assigned to the name of your company's representative (general manager, director, etc.). If it has a number of distributed independent rental points, Cardoo can assign the cards to the names of your rental points, or other names that you'd prefer to mention.
Cardoo does not restrict any employees of your car rental company from utilizing the cards. Each on-counter employee, or authorized rental point manager of your company is eligible to utilize Cardoo's cards in accordance with the rules of your service related to payments and deposits.
Cardoo's cards are not linked up with your certain payment modules, so you can use them with any of your company's payment gateways & terminals.
Cardoo's cards, both virtual and physical, have the necessary requisites, cvc, 3ds password, and SMS verification enabled. We'll ask you for the names and phone numbers of responsible persons to enable phone verification. Cardoo can link up an additional phone number with the card for verification purposes at any time - for example, if the employee is on vacation.
For now, there is no top amount for deposit pre-authorisation. If you require any additional restriction for the internal security purposes, please discuss it with Cardoo.
Replacement
If any risk, cards may be blocked, or replaced immediately. Please contact Cardoo for help.
Virtual Cards
Virtual cards by Cardoo work exactly the same as usual cards - you'll need to key in the details into your online purchasing module. Your car rental company is eligible to utilize the virtual cards for blocking (freezing) deposits, deposit pre-authorization, and deposit charge.
Manager's Practice
Utilizing the same card for each deposit operation should not confuse an on-counter manager. The risks of blocking for this repeated operation is eliminated.
A deposit hold may be handled within 21 business days without prolongation as per common business practice. If it's necessary to prolong the DepositFree service for a long-term rental contract, please re-authorise the card.
Usage Fees
There is no interest fee for utilizing Cardoo cards, blocking (freezing) deposits, deposit pre-authorization, and deposit charge. But the common transaction fees may apply as per your acquirer's rules - just like with the usual clients' cards from Europe.
Sometimes, it may be necessary to avoid huge commissions when charging deposits. In this case, please negotiate the algorythm of work with your personal manager. Cardoo proposes the following scheme: the related deposit should be unblocked from the card from your company's side. Then, the car rental company issues an invoice in the name of Cardoo, and Cardoo makes an immediate money transfer .