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EMI Transaction Lifecycle

transaction-states

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EMI transaction workflow

  1. Customer Interaction with Merchant Checkout Page Add to Cart: The customer adds items to their cart and proceeds to checkout. Select EMI Option: Upon checkout, the merchant displays all available EMI offers to the customer.

  2. Search Offers / EMI Plans

  • Offer Retrieval: The merchant calls Pine Labs' Offer Search API to retrieve all available offers.
  • Offer Display: Pine Labs returns all available offers to the merchant, which are then shown to the customer.
  1. Eligibility Check
  • Offer Selection : When a customer selects an offer, the merchant sends customer information along with the offer parameters to Pine Labs using the eligibility check API.
  1. Payment Processing
  • Intiate Transaction : Pine Labs confirms eligibility and the merchant calls the Accept Payment API.
  • Token Generation: Pine Labs returns a token in the API response.
  • Payment Processing: The merchant calls Pine Labs' Process Payment API with the token and necessary parameters as per documentation.
  • OTP Redirection: The customer is redirected to an OTP (One-Time Password) page to verify the transaction. (Acquirer to Issuer)
  • OTP Input: The customer enters the OTP received.
  • OTP Validation: 3DS provider on behalf of the issuer validates the OTP and sends back success response to acquirer.
  1. Transaction Authorization
  • Authentication Successful : The Acquirer authorizes the transaction after authentication is sucessful.
  • Success Message: The customer is shown a transaction success message once acquirer sends a success to Pine Labs and Pine Labs will relay the message to the merchant URL.
  1. Post Transaction Workflow
  • Loan Booking File: The transaction is sent as part of a Loan Booking File at t+1 (the next day).
  1. Refund Process (if applicable)
  • Initiate Refund: In case the product needs to be returned or the order is canceled, the merchant initiates a refund transaction.
  • Refund Acknowledgment: The merchant acknowledges the refund.
  1. Settlement Workflow Settlement: Pine Labs will settle the amount to the merchant and transaction will be marked as Completed.