Last week, we launched a new way for Pearachute families to book activities with enrichment providers. The new format is called Instant Booking, and it allows parents to quickly book an activity using their credit card on file. In many ways it will feel similar to how Pearachute Partners received bookings in the past, but with three major differences.
First and most importantly, the funds will become immediately available to you at the point of booking. This works through an integration we built with Stripe that allows you to connect your bank account to Stripe Connect, receiving funds immediately.
Second, we are no longer offering classes at a discount through our credits. Soon, credits will be like airline miles that can be redeemed for perks and gift cards on Pearachute. But we will no longer be paying out providers at the 50/60% payout rates we did in the past. Instead, any booking that happens on Pearachute will be paid out minus a 5% processing fee for Pearachute and 2.9% +$0.30 for Stripe.
Third, we’ve created a way for families to donate the credit card processing fees, so you’ll get to keep as much money as possible. We estimate that 40% of families will do this, which can really add up.
Finally, one of the biggest reasons to add Instant Booking to some or all of your listings is that we are partnering with the largest search engine in the world to help improve our partners’ search rankings. By adding even one instant booking virtual or in-person activity, you can get additional ranking priority through this partnership.