Checkout reservation timer

we need a feature where the customer has a set period of time to checkout the items in cart before they auto expire and are removed - like lots of ticket sites - eg they are reserved for 5 minutes (duration can be chosen by shop owner) but then if not checked out within the set time are removed from the customer cart. this will stop lots of our overbooking or late booking problems, as these are daily issues we face with people adding items to the cart either before max capacity is reached, or before the time cutoff, but then complete checkout after, so the booking is placed and payment taken, but then the booking is automatically moved to conflicts, and causes lots of problems for us daily.