Online Payment Methods: Credit Cards

Renters of self storage units find it extremely convenient to use credit cards as an online payment method. In order to accept credit card payments, self storage companies usually engage the services of a credit card processing provider.

To enable storage facilities to accept credit cards as a method of payment, service providers connect to multiple acquiring banks, credit cards, and payment networks. Using external networks and bank accounts, they manage these technical connections and relationships. This reduces dependence on financial institutions for self storage facilities. Some providers also process innovative online payment methods such as wallets, prepaid cards, and e-checks.


StorageRentPayment provides you and your customers with the convenience of credit cards as a method of payment. Accepting credit card payments for self storage units offers you and your renters freedom from the hassle of paper checks. Providing customizable, scalable, and flexible payment methods, including the ability to accept credit card payments is something we’ve offered for many years. Being able to accept online credit card payments with ease gives you more time to focus on the things that really matter, like running your business.

How Does Accepting Credit Card Payments Work?

When used as the payment method for self storage, credit card charges are usually processed in a few seconds. It might not seem obvious, but a lot goes on behind the scenes:

Step 1: Renter Initiates Online Payment 

The self storage customer interacts with the StorageRentPayment site or via a payment app or other payment channel in order to pay for a storage unit. After selecting credit card as the online method of payment, they provide their name, credit card information, and address, and submit payment. This sets in motion a series of backend processes.

Step 2: The Payment Gateway & Merchant Account

StorageRentPayment’s online payment processing frontend interface, called the payment gateway, relays the transaction details (name, address, credit card number, Card Verification Value (CVV) security code and the amount) to its merchant acquirer. The merchant acquirer is also known as the payment processor.

Step 3: Payment Processor & Credit Card Networks (A)

To validate the payment details, the payment processor (merchant acquirer) sends them through the credit card networks (Visa, MasterCard, American Express), which then send them to the card’s issuing bank for verification.

In the event the renter is paying for a storage unit with Discover Card or Diners Club, which issue cards directly to consumers and use a three-party scheme of a closed loop system, the payment processor sends the payment to the acquiring bank of the merchant for validation due to the fact that it’s the same as the customer’s card issuing bank. In a nutshell, transactions such as these are processed through the Discover payment network and relayed to Discover Bank for verification.

Step 4: Credit Card Issuing Bank

The renter’s card-issuing bank approves or denies payment for self storage based on the status of the card (for example, active, stolen, or within credit limit.) The bank then communicates the results back to the credit card networks. If payment is approved, the card issuing bank charges the storage unit renter and sends the funds to the credit card network minus the interchange fees covering the credit risk assumed and any rewards the customer receives for having used the credit card as the method of payment.

Step 5: Payment Processor & Credit Card Networks (B)

The credit card network communicates the transaction approved/denied status to the payment processor and forwards the money less the assessed fee. In the event the renter is paying for self storage with a Discover Card or Diners Club that use a closed loop system, Discover Bank validates and sends the payment approved/denied status back over its Discover Network directly to the payment processor. The payment processor then lets the StorageRentPayment payment gateway know if the transaction is approved/denied and also sends the funds of approved payments less merchant acquirer service charges for using credit card as the payment method.

Step 6: Payment Gateway & Merchant Account (B)

StorageRentPayment’s payment gateway informs the storage unit customer by forwarding the transaction approved/denied status via the online payment interface. StorageRentPayment also sends funds for payments that are approved less its fees. In the event the payment method is rejected, StorageRentPayment’s payment gateway sends the information back to the site or app and payment processing comes to a close.

Step 7: Payment

At this point, the money needs to move from the merchant account to the self storage facility’s bank account. Because the facility is a partner with a StorageRentPayment sub-merchant account, the payment gateway deposits the net payment into the partner’s bank account. When payment processing is done, the storage unit renter is informed that the payment was successful and is shown a confirmation screen. Usually, a receipt is emailed to the storage unit renter and reports are updated in real time indicating that payment has been made.

Why Use StorageRentPayment for Your Self Storage Facility?

StorageRentPayment thinks of you as a valued partner rather than a customer, and is interested in forging a relationship with you that works for both of us. Of course, we enjoy the fact that you benefit from our industry expertise in accepting credit card payments.

We help a wide range of companies figure out how to accept credit card payments. No matter the size of your self storage facility, when you partner with StorageRentPayment, you’ll enjoy dedicated customized service backed by unmatched industry experience.