Repayments

Repayment allocation

Credit amounts received for an account are allocated to repay debt recorded in the PayCredit ledger. This includes repayments from the cardholder, refunds and reversals and chargebacks.

Repayment allocation is based on the credit products repayment hierarchy, with interest debt mandated as the highest priority.

You define your credit products repayment hierarchy on your PSF and the Paymentology team configure this during product creation. For example repaying Fees before other debt and after interest debt.

The table below provides you with an overview of your options:

Debt Type	Description	Repayment Hierarchy Example	Is this Debt Type configurable within the Repayment Hierarchy?
Interest (posted)	Interest that has been accrued and posted to an account.	1	Non-configurable. This will always be 1 on the Repayment Hierarchy.
Fees	Any Fees incurred on the account.	3	Configurable
Purchases	Any purchase transactions made on the account.	2	Configurable
Cash Withdrawals (incl. Cash Advances)	Any cash withdrawals or cash advances made on the account.	4	Configurable
Penalties	Any penalties applied to the account.	5	Configurable

Note: If your credit product includes instalments, instalments due becomes the highest priority, followed by interest debt.

Overpayment

PayCredit allows accounts to be overpaid, meaning the debt on the account is less than zero.

This can occur when:

A cardholder makes a repayment in excess of the debt
A refund is received in excess of the debt
A chargeback is processed in excess of the debt

In these events, all debt in the PayCredit ledger is repaid.

Any amount in excess of the debt is recorded as an overpayment amount on the account and is automatically allocated to repay any future debt (new transactions, new posted interest).

Repayment collection

You (the client) are responsible for notifying the PayCredit system of any repayments made by the cardholder. Once you have received a repayment you need to make an API call to provide notification of a repayment.

You can do this by calling the Create transaction API .

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When calling Create transaction for repayment notification you must use value 51 in the transaction_type_id and include the repayment amount in the amount field.

transaction_type_id value 51 (repayment transaction).

Repayment status

As mentioned here, the main driver for repayment status is whether the cardholder has repaid the last released statement by the repayment due date.

The full range of repayment status' include:

Repayment Status	Description
F	Repaid in Full (debt is zero)
S	Statement amount repaid (by the repayment due date)
R	Repaid minimum required
D	Repayment due (minimum has not yet been repaid, before repayment due date)
O	Overdue (minimum has not yet been repaid, after repayment due date)
L	Late payment (statement amount repaid, but after the due date - interest will be posted)
E	Overpaid (account balance is now negative)
A	In Arrears (when account is overdue and next billing cycle has started)

Retrieving balance and repayment details

PayCredit continuously updates in real-time, including new purchases and applying repayments. You can retrieve account balance details including how repayments were allocated via API.

Get Repayment by ID: Returns the full details of a repayment made and how it was allocated by passing the transaction_id and id of the repayment.

Repayment allocation

Overpayment

Repayment collection

When calling Create transaction for repayment notification you must use value 51 in the transaction_type_id and include the repayment amount in the amount field.

Repayment status

Retrieving balance and repayment details

When calling Create transaction for repayment notification you must use value `51` in the `transaction_type_id` and include the repayment amount in the `amount` field.