= Guides Buy Now, Pay Later: Post-Purchase Workflows, Buy Now, Pay Later: Post-Purchase ~ Workflows © The guide describes the endpoints and workflows for creating and managing post-purchase Buy Now, Pay Later. Endpoints related to Buy Now, Pay Later: Post-Purchase This table lists the actions for both credit and debit transactions and the related Program AP| and Loan API endpoints. Action Create a plan/loan from one or multiple eligible settled transactions in a debit or credit account, Create a payment on a single loan, either from a primary or external account. Create a payment on the loan, either from a primary (Galileo DDA) or an external account. Check the payments made to date on the loan and receive an update schedule of future payments required. View individual installment status across all installments. Charge off an account, Check the status of the loan, such as the current balance, loan cycle, and the remaining payments. How it works Endpoints Create Loan From Transactions Create Loan Payment Create Adjustment Get Loan Payment Schedule Get Loan Installment Statuses Update Loan Status Get Loan Status This section contains workflows that illustrate the processes for creating and managing a Buy Now, Pay Later: Post-Purchase service. Loan creationCustomer Your system Galileo Select settled Perform transactions underwriting process Validate customer information ¥ Determine funds disbursement.1. Your customer reviews recent settled transactions and selects up to five transactions to move into a BNPL: Post-Purchase loan/plan. . You perform the underwriting to determine the offer you want to extend to the customer. . You present the offer to your customer. . The customer accepts the offer and terms of the loan. es ReRN . You use the Posted Transactions RDF to determine the settlement key for each transaction. 6. You call Create Loan From Transactions endpoint to create a loan for the sum total of the selected transactions and any fees associated with the BNPL: Post-Purchase offering and specify if funds are disbursed to a Galileo DDA or an external account. See Creating a Loan from Transactions guide for details. 7. Galileo validates the following details: + The selected transactions are not part of an existing installment loan. + You have the required information about the customer. + The selected transactions are settled. 8. Galileo creates the loan and sends confirmation of successful loan creation in the Create Loan From Transactions response. 9. Galileo also notifies you the loan was successfully created via the loan creation event . Manage payments and charge offCustomer Your system Receive daily files Initiates Notify payment customer Send Create Payment Galileo Payment due? Move funds from account Payment complete loan_payoff _event. = Notify customer the loan is paid off. Repeat cycle The customer pays the BNPL: Post-Purchase in installments at the defined schedule in the offer. 1 2. The customer receives the notification and initiates the payment. - You use the Daily Loan Status, Daily Loan Installment Status, and Daily Transaction files to track when a customer's next payment is due. You can also call theGet Loan Status endpoint or Get Loan Installment Statuses endpoint to get loan statuses for customers. 3. When a payments due, you call the Create Loan Payment endpoint to execute the payment. payment. . Repeat steps 1-5 for the remaining installments. . Galileo sends the Create Loan Payment response in confirmation of a successful6. On the last payment, you receive a notification from Galileo that the loan/plan is paid off (loan_payoff event ), 7. You notify the customer that the loan is paid off and closed. © Updated 5 months ago About Buy Now, Pay Later: Post- Creating a Loan From © Purchase Transactions Did this page help you? (Yes. CJ No Galileo Financial Technologies, LLC 2024 {aprip nw. hore materne may nase prose ettutos vanes, payed hens wee wiht he wrt etme aes Faria ache {Tea arathoreodue or eprduston of hverlel re xorevl poh