There are three entities involved in an order, Slope, the customer, and the merchant (your team!).
For an order to go through the entire lifecycle successfully, the order must be mutually agreed upon in a three-way handshake, indicated by a series of order statuses.
|An order has been created, usually by a merchant hitting our API, and Slope has approved it for immediate payment or potential financing.
|The merchant agrees that the order that the customer has placed is real and correct. Payout occurs after this status has been reached, and this is a terminal status.
|The order has is canceled and can no longer be opened or finalized. This occurs when you, the merchant, cancels the order directly or Slope cancels the order because it has not been updated recently.
A successful order can be expected to move from
Once an order is
finalized, it can no longer be canceled.
The amount for the order is debited from the customer's available balance upon order open.
If a customer has an available balance of $100k and opens a $70k order on July 1, they will have a balance of $30k, whether or not the order is finalized. The only way for the customer to get back to their original $100k balance is if the order is
canceled, or if the order is finalized and then paid off.
An order's repayment schedule begins upon finalization. As an example:
If an order was opened on July 1 and then finalized on July 10, the customer’s repayment date for a Net 60 order would be September 08 (July 10 + 60 days, not July 1 + 60 days). Transactional messages Slope sends also depend on finalization - so they would get an order confirmed email on July 10, the day of finalization.
It is important for the accuracy of customer balances for a merchant to promptly
finalizeany open orders.
A time of 0-3 days between
An order object includes an additional attribute called
payment_status describes the repayment lifecycle. The payment status is updated as an order is paid off by the customer and/or refunded by you, the merchant.
|The order has been canceled (see order statuses above).
|The order is in an open state (see order statuses above).
|The order was fully refunded.
|The order has been fully repaid by the customer. In some cases the order may have been partially refunded.
|The order has been partially repaid by the customer. In some cases the order may have been partially refunded.
Updated 17 days ago