Transaction Statuses

A transaction goes through various stages in the PayPlan order lifecycle, with its current stage reflected by the transaction status. You can perform various order management actions on a transaction depending on its current status, through the methods described above.

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NOTE

Depending on your platform and if your integration was set up successfully, very few transactions should require manual management through the PayPlan Merchant Portal.

Authorized Transactions

Authorization is the first required step in the PayPlan order management process. An Authorized transaction indicates that an order is legitimate. Once you “Authorize” an order, PayPlan guarantees to fund the transaction upon fulfillment and future settlement of the order, if you abide by PayPlan's shipping policy and rules.

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Authorized Order Expiration

Authorized orders expire in 90 days, if not fulfilled and settled within the time frame. If you foresee a delay in fulfilling a PayPlan order, reach out to your Success point of contact to identify the next steps.

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Note on Direct API

Authorization should occur automatically on any of PayPlan's supported plugins. If you are using PayPlan's direct API integration, it is recommended to immediately issue an “Authorize” command through PayPlan's Transaction API at the time of checkout. In the event of an issue, you will be able to immediately inform the customer if the authorization failed and create a note at your end not to fulfill the order until the issue has been addressed.

Settled Transactions

Settlement indicates that the loan has begun and funds for the transaction have been captured. Transactions should only be settled upon fulfillment of an order. Upon settlement, a customer’s loan formally begins and their first payment is owed within 30 days from the settlement date. Merchants should expect to receive funds within 0-2 business days of settlement.

Partial Settlement

A transaction can also be partially settled in the event that portions of the order are fulfilled at different points in time. If a transaction is settled partially, payment can be released for the amount of the transaction that has been fulfilled and settled. Upon the first partial settlement, you will have 14-30 days to settle the remaining balance of the transaction. Once an order is completely fulfilled, the remaining portion of the transaction should be settled.

Pending Transactions

A transaction in a Pending state typically indicates that a communication error occurred between PayPlan and your OMS. Transactions can persist in a Pending state due to the following reasons:

• There is a one-off communication error between PayPlan and your OMS.
• Customers exit the PayPlan workflow quickly after completing their transaction, resulting in less time for the order to pass through PayPlan and your OMS.
• Repetitive Pending orders can be indicative of a technical issue. In such a case, reach out to your Success point of contact for further investigation.

For details on processing a Pending order through the Merchant Portal, see the Process Pending Orders section.

Refunded Transactions

After settlement, a PayPlan transaction can be fully or partially refunded (Note: only fully settled transactions can be refunded). For details on refunding a transaction through the Merchant Portal, see the Process Transactions section.

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Refunds are not reversible

Refunds cannot be reversed, so ensure that the refund amount is accurate.

Customer Refund Experience

Refunds apply only to the principal balance of the loan. If a refund is issued more than 30 days after the transaction is settled, any interest that the customer has already paid on the loan will not be refunded. If a full refund is issued, any payments made on the customer's loan will be returned to the customer less any accrued interest. For partial refunds, the customer’s monthly installment amount will be adjusted to reflect the remaining loan balance..

Cancelled Transactions

An Authorized or a Pending transaction can be fully or partially cancelled before the transaction is settled. For details on canceling a transaction through the Merchant Portal, see the Process Transactions section.

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Cancellations are not reversible

Cancellations cannot be reversed, so ensure that the cancellation amount is accurate.

Expired Transactions

A long-standing transaction automatically expires after a specified timeframe. A pending transaction expires in 14 days while an authorized transaction expires in 90 days.