A transaction goes through various stages in the Bread order lifecycle, with its current stage reflected by the transaction status. You can perform various order management actions on a transaction depending on its current status, through the methods described above.
Depending on your platform and if your integration was set up successfully, very few transactions should require manual management through the Merchant Portal.
Authorization is the first required step in the Bread order management process. An Authorized transaction indicates that an order is legitimate. Once you “Authorize” an order, Bread guarantees to fund the transaction upon fulfillment and future settlement of the order, if you abide by Bread’s shipping policy and rules.
Authorized Order Expiration
Authorized orders expire in 90 days, if not fulfilled and settled within the time frame. If you foresee a delay in fulfilling a Bread order, reach out to your account management point of contact to identify the next steps.
Note on Direct API
Authorization should occur automatically on any of Bread’s supported plugins. If you are using Bread’s direct API integration, it is recommended to immediately issue an “Authorize” command through Bread’s Transaction API at the time of checkout. In the event of an issue, you will be able to immediately inform the customer if the authorization failed and create a note at your end not to fulfill the order until the issue has been addressed.
Settlement indicates that the loan has begun and funds for the transaction have been captured. Transactions should only be settled upon fulfillment of an order. Upon settlement, a customer’s loan formally begins and their first payment is owed within 30 days from the settlement date. Merchants should expect to receive funds within 0-2 business days of settlement.
A transaction can also be partially settled in the event that portions of the order are fulfilled at different points in time. If a transaction is settled partially, payment can be released for the amount of the transaction that has been fulfilled and settled. Upon the first partial settlement, you will have 14-30 days to settle the remaining balance of the transaction. Once an order is completely fulfilled, the remaining portion of the transaction should be settled.
Note on Partial Settlement
Only merchants with a partial settlement clause included in their contract are eligible to partially settle transactions. If you do not have partial settlement in your contract, you should only settle a Bread transaction once the entirety of the order is fulfilled.
An transaction in a Pending state typically indicates that a communication error occurred between Bread and your OMS. Transactions can persist in a Pending state due to the following reasons:
- There is a one-off communication error between Bread and your OMS.
- Customers exit the Bread workflow quickly after completing their transaction, resulting in less time for the order to pass through Bread and your OMS.
- Repetitive Pending orders can be indicative of a technical issue. In such a case, reach out to your account management point of contact for further investigation.
After settlement, a Bread transaction can be fully or partially refunded (Note: only fully settled transactions can be refunded).
Refunds are not reversible
Refunds cannot be reversed, so ensure that the refund amount is accurate.
Refunds apply only to the principal balance of the loan. If a refund is issued more than 30 days after the transaction is settled, any interest that the customer has already paid on the loan will not be refunded. If a full refund is issued, any payments made on the customer's loan will be returned to the customer less any accrued interest. For partial refunds, the customer’s monthly installment amount will be adjusted to reflect the remaining loan balance.
An Authorized or Pending transaction can be fully or partially cancelled before the transaction is settled.
Cancellations are not reversible
Cancellations cannot be reversed, so ensure that the cancellation amount is accurate.
A long-standing transaction automatically expires after a specified timeframe. A pending transaction expires in 14 days while an authorized transaction expires in 90 days.
Updated 10 months ago