Glossary

Prepaid reservation

What is a prepaid reservation?

A prepaid reservation is a booking paid in full when it is made, like a theatre ticket: the tasting menu, event or seat is bought upfront and the sale is final (or refundable only outside a stated window). Tock built its whole model on this, and it works for experiences with committed kitchen prep and no walk-in substitute. Prepayment eliminates no-shows entirely, at the cost of booking friction and platform fees on the prepaid volume (Tock charges 2-3% depending on tier, plus card processing). For everyday tables, holds or deposits are gentler; prepayment shines when an empty seat is a dead loss.