How to stop payments in an emergency

Pulling the handbrake on real-time payments when hit by unforeseen events

So everything is going great with Daggle. You’ve borrowed something. You’re happy knowing that you’re saving money and the environment at the same time, while perhaps enjoying an experience you might not otherwise have.

Super!

But then a problem arises. You’re trying to get back on time to return the item, but there’s crazy traffic that will delay you by hours. Or the owner has got pulled away to a work or family emergency and can’t meet you until tomorrow, or even next week!

Ah!

Even though you’re done with your item and you want to give it back, your real-time payments haven’t stopped. You feel like you’re just losing money, second by second. What can you do?

Pull the handbrake, a.k.a. the emergency Stop button.

Now, before you do this, let’s take a look at when are appropriate times to hit ‘Stop’. Then we can look at what are the steps that happen when you do hit the Stop button.

When should you use the Stop button?

Here are some scenarios:

1. You are unable to return the item because the Lender is not available due to some unforeseen circumstance. Maybe they, or someone they love, is in the hospital suddenly. Perhaps they’ve been called to an emergency work crisis, or are just stuck late in the office that night.
2. You are unable to return the item because you have had an unforeseen issue arise. Maybe you’re stuck in an elevator (!), or called away to work or a family emergency.
3. You believe the Lender is acting in bad faith and is trying to extract extra payments from you. Maybe they’re dodging your calls, or they keep delaying the agreed drop off time. Whatever it is, you have a bad feeling they’re not trying to help you out, but actually take advantage.

These are all reasonable examples of when it might be a good idea to use the stop button. Circumstances are preventing the transaction from ending in the normal course of events.

It’s okay, though. Life happens. Deep breath. We can help.

What should you do before using the Stop button?

Now before leaping to press it, do try your best to resolve the issue first with the Lender.

1. Contact the Lender and explore other possible ways to return the item to them, e.g. they share the return code to a family member or friend, who you can give the item to
2. If no other solution is possible, get agreement from the Lender that this is indeed an appropriate time to stop real-time payments before you actually hit the button. Most Lenders will be reasonable people and would want you to borrow the item again, so it is in their interest to be accommodating

What happens when you hit the Stop button?

If it gets to this point, first off, we’re really sorry there’s been an issue. Press the Stop button and the following things happen:

1. The real-time payments for this item will stop. Money will no longer be moving from your account to the Lender’s.

2. But the clock will keep on running because you still have the item in your possession.

3. The owner of the item will receive a notification that you have stopped payments and be asked to give their consent (this is why it’s important to get agreement from them first, if possible…).

4. If they give consent, you will be notified that they have agreed. Please arrange a time to return the item when you can. Once you do, the clock will stop and the transaction will be closed. You won’t be charged the unpaid time.

5. If they don’t agree, Daggle will mediate the dispute. If either side is found to be acting in bad faith, there could be penalties, as outlined in the Terms of Service.

6. If you as the Borrower are found to have stopped payments prematurely to save money, the full value of the unpaid time will be deducted from your account. (So please don’t be naughty.)

7. If you fail to return the item to the owner after they have agreed to stop the real-time payments, then you could be charged the full value of the unpaid time and the value of the item itself. (Let’s face it, this is basically stealing.)

Can you ‘unstop’ the stop button?

Should you change your mind for any reason (traffic has cleared! emergency over!) you can always choose to ‘unstop’ the stop button.

If you do, the value of the unpaid time will be deducted from your account, and the transaction will continue as normal: real-time payments re-start and the clock keeps running. To end the transaction, return the item just like you normally would.

Reasons not to mess around with the Stop button

It could be tempting to mess around with real-time payments by taking advantage in some way.

As a borrower, it’s tempting to press the Stop button to save some cash. As a lender, it’s tempting to delay meeting up for the drop off and make more money.

In either case, it’s really handy to remember that after the transaction closes each side gets to rate the other. If you get a bad score as a lender, people will be less likely to borrow from you, so your short-term gain is really a long-term loss. If you get a bad score as a borrower, people will be less likely to lend to you, so your short-term gain is also a long-term loss.

Daggle also reserves the right to remove users who receive consistently low scores. Our aim is to provide the highest quality online marketplace for people to be able to borrow and lend safely, enjoy the benefits of real-time payments and zero-transaction fees, allowing you to go explore the world more!

Also remember, that Daggle has verified each and every user, which is a strong deterrent to acting badly.

We hope you never have to use the Stop button, but it’s there for you just in case you need it. So rest easy that we got you covered and go enjoy some Daggling!