Buyer Onboarding

Like all features, Buyer Onboarding can be done via APIs and manually. The pre-requisite to buyer onboarding is successful Merchant Onboarding.

What is Buyer Onboarding?

Sharing buyer data with Sprinque for the first time is Buyer Onboarding. You can onboard both your existing and new buyers.

Buyer onboarding is the second and most crucial step as the data shared during buyer onboarding is used to access the credit and fraud risk of the buyer. This, in turn, helps us set a reasonable credit limit and offer a payment term ranging from 7 to 90 days (PAY_IN_3 instalments). All invoices below the credit limit of the buyer are risk-free to you.

How does the API work?

The purpose of the buyer registration API is to help a buyer register with Sprinque directly by manually entering their buyers' details. On successful buyer registration, the buyer's credit risk is assessed by Sprinque. The risk assessment will be complete within 1 business day, post which the get buyer details API can be used to get the status of the credit risk assessment. 90+% of our buyer businesses are auto-approved in real-time.

If integrating via the Sprinque API, we encourage you to share data like order shipping address, IP address, and any device-related information in the metadata fields provided for a better assessment of the buyer. More.

Order shipping address

In particular, we encourage you to share with us the order shipping address in the buyer registration API in the field initial_shipping_address, as this will improve Sprinque credit risk assessment for the buyer, increasing the auto-approval rate.

How can I do this Manually?

Yes, this can be done manually through the Merchant Control Center by navigating to the Buyers tab in the left navigation and then clicking on the "Add Buyer" button. The required fields are exactly the same as in the API.

Buyer's credit assessment status

When the buyer business is created the credit_qualification.credit_decision has a PENDING status. Then our system tries to move it to APPROVED automatically. Sometimes a manual review is needed and the status becomes MANUAL_REVIEW. Once the manual review is done within 24 working hours (usually a few hours), the credit_decision becomes APPROVED, REJECTED, or BLOCKED.

Existing Buyer Onboarding

Sprinque encourages the seller to use a script to recursively call the buyer registration API for each buyer in their system. This is a one-time script run by the seller as part of Sprinque integration to help replicate their buyers onto the Sprinque platform for further processing.

If you call POST /buyers with the details of a buyer who has already registered with sprinque, the existing company details will be returned and we will not create a new buyer. Merchant Name + Buyer company name + registration number is used as a unique set for buyer registration on the Sprinque side.

Note - We do not take over past/existing invoices for existing buyers. Hence as a cautionary measure, check if they have outstanding invoices with you before onboarding them to Sprinque.