Swikly provides an online deposit management solution that allows businesses to secure reservations and rentals without the need for traditional payment methods like checks or cash. By utilizing a secure online transaction system, Swikly eliminates the risk of blocked funds on customer credit cards while automating the deposit process, enhancing operational efficiency for professionals in various industries.
Funding
$1.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Managing security deposits using traditional methods like checks, cash, or credit card holds can be cumbersome and inefficient for businesses. These methods often involve manual processing, risk of loss or theft, and can negatively impact customer credit limits.
Solution
Swikly offers a digital solution for managing security deposits, enabling businesses to secure reservations and rentals without blocking customer funds. The platform automates the deposit process by sending a secure link to the customer, who then registers their credit card on a secure online form. This creates a "swik," a transaction that authorizes a charge on the customer's card for a specified amount and duration. If the customer fulfills their obligations, the authorization is automatically released; otherwise, the business can request a partial or full charge.
Target Audience
Swikly primarily targets professionals in the rental and reservation industries, including short-term rentals, campsites, vehicle rentals, equipment rentals, and healthcare providers.
Features
- Online deposit requests via a secure link sent to the customer
- Credit card registration on a secure, PCI-compliant online form
- Automated release of the deposit authorization upon successful completion of the rental or reservation
- Option to request partial or full encashment of the deposit in case of damages or non-compliance
- Integration with PMS (Property Management Systems) and channel managers for automated deposit requests
- API access for integration with existing business software and ERP systems
- Customizable deposit amounts and durations
- Optional premium service with insurance coverage for guaranteed reimbursement in case of payment default