Like all features, Buyer Onboarding can be done via APIs and manually. The pre-requisite to buyer onboarding is successful Merchant 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 15 to 90 days. All invoices below the credit limit of the buyer are risk-free to you.
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.
If integrating via the Sprinque API, we encourage you to share data like order shipping address, IP address, Mac address, device type, OS, and any device-related information in the metadata fields provided for a better assessment of the buyer.
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.
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.
On registration, the buyer is set to 'ACTIVE', 'UNDER REVIEW' or 'INACTIVE' depending on if the buyer could be identified. 'UNDER REVIEW' moves to 'ACTIVE' or 'INACTIVE' after manual review. Once the buyer is set to 'ACTIVE', the credit status is by default set to 'PENDING'. Within 1 business day, the credit status gets updated to 'APPROVED' or 'REJECTED' based on the credit risk assessment.
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.
Updated about 1 month ago