The transaction processing guide applies to the case when the merchant uses Sprinque for its invoicing services.
- The buyer has been successfully registered with Sprinque.
- Credit risk assessment of the buyer is complete and the buyer has been approved for credit.
Transaction processing begins after the buyer onboarding is successfully complete.
The first step is to perform an authorization. Authorization is the process of checking if the order amount is within the available credit limit set for the buyer during onboarding. If the credit is available, it will be temporarily held throughout the process until the money has been paid back. Once the money has been paid back, the hold would be removed and the limit would be available again.
Authorization can be followed by 2 different API calls - Void or Capture. When the order needs to be canceled before its shipment, a void needs to be raised in relation to the Authorization call. Void removes the temporary hold on the credit limit.
Capture is used to inform Sprinque that the order has been shipped and the invoice has been created. At this point, the funds are transferred to the marketplace and the net terms begin for the buyer.
The buyer can choose to return full or part of the goods according to the return policy of the marketplace and the marketplace should create a credit note and raise a refund with Sprinque. The credit note can be used by buyers for paying the following orders with the same marketplace.
Updated about 1 month ago