This month, we are excited to announce several new Product features for our merchants, including Payment Collections Accounts and Invoice Status Webhooks.
Payment Collections Account
Directly use the white-labeled bank account in your invoices. Less confusion for the buyers and no operations overhead for you. What is the Payments Collection Account? The payments collection account is the account that Sprinque uses for payment collections from your buyers. The buyer has purchased from your website but is getting reminders to pay the invoice to Sprinque. In such cases, the buyer is confused about which account the payment should be made to and why the new entity is in the picture. For this purpose, we have developed the ability to customize the payment collections account and create a white labeled subaccount with your name under the Sprinque bank account. This helps reduce confusion for the buyer and helps you offer a fully white-labeled solution. Where can you find it? MCC Navigate to Settings > Payment Collections. Here you will find the account details Sprinque uses in all buyer communications.
API Sprinque also has an API for you to programmatically fetch these account details and proactively use them while generating Invoices.
Check out the endpoint here.
Invoice Status Webhook
Sprinque sure does take care of the entire payment collection process, but are you still curious to find out if your buyers have actually paid us? Well, we have just developed the perfect way to notify you! What is the Invoice status webhook? Invoice status webhook, as the name suggests is a webhook call back you will receive whenever the status of the invoice changes. All invoices are created with the status "OPEN" by default when you first share them with Sprinque.
If the invoice has been paid with the granted payment term, the status of the invoice will change to "PAID". If the invoice has not been paid within the granted payment term, the status of the invoice will change to "OVERDUE". In both the cases, you will receive a webhook updating you about the change in invoice status.
Below is a sample payload of the webhook response -
Where can you configure it? This URL can be configured in the Merchant Control Center.
Navigate to Settings > API Keys and URLs > Invoice Status Callback URL
In this text field, you can enter the callback URL where you would like to recieve the updates to.
How can you opt for it? Any merchant is open to opting in for invoice status change updates.
First, you need to configure the right URL on the settings page.
Then, drop a mail to firstname.lastname@example.org or reach out to us on the dedicated slack channel. We will turn on the feature for you.
Thank you and see you next month!