Post-Signing
Confirm Delivery
Progressive Leasing looks for a signal that all leased items on an order have been delivered in order to activate the lease. At the time that delivery of the entire lease order is confirmed, the lease moves to “Funded” status, the lease payment schedule is initiated, and the retailer is eligible for payment from Progressive.
The delivery confirmation serves as a confirmation that the customer has received their merchandise and facilitates the funding process to a merchant’s bank account through ACH.
Once the delivery confirmation is received, the lease status will be changed to “Funded”, and the customer will start their periodic payments with Progressive.
Progressive Leasing cannot fund on any partial deliveries or pickups. All merchandise must be in the customers possession prior to starting their period payments.
Retailers can use one of three methods to confirm delivery of a lease order.
- Store Portal. Credentials can be provided as part of your integration.
- Direct API integration. Refer to the Commerce API documentation for further details.
- Secure batch funding file shared over SFTP. A file should include store name, lease ID, customer name, invoice amount, and confirmed delivery date.
Understanding Lease Statuses
Category: Application
| Lease Status | Description |
|---|---|
| Approved | Customer has been approved. An account number an approval limit will be provided in the response. |
| Denied | Customer has been denied. An account number is still provided for a Denied status. |
| Pre-approved | Additional information is needed from the customer for a final credit decision. Customers should contact Progressive Merchant Services for assistance. |
| Pending | A Pending status can occur in the event Progressive’s credit decision engine is down. This is a very rare occurrence, however in the event a Pending decision occurs, customers should contact Progressive Leasing Merchant Services for assistance with their application decision. |
| Approval Expired | An approval is only good for 90 days. In the event an approval expired, a customer will need to reapply. All leases MUST be completed within a 90 day period. It is recommended to monitor all leases that are associated to invoices as well. |
| In Process | A member of Progressive merchant services has placed the lease into an In-Process status. This typically represents that the customer is working with merchant services to overturn a denied decision. |
Category: Invoice Submission
| Lease Status | Description |
|---|---|
| Contracts | Once the invoice information is submitted on an Approved lease ID, the status will change to Contracts. |
| Contracts Expired | If SubmitInvoiceInformation has been submitted which changed the lease ID to Contracts, the contracts will expire in 60 days. This is because the customer never signed their lease agreement. In some cases, the lease status can be changed back to an Approved status by contacting Progressive merchant support. |
Category: eSign Lease Agreement
| Lease Status | Description |
|---|---|
| Contracts Received / Lease Accepted | Once a customer signs their lease agreement, the status changes to Contracts Received and then quickly to Lease Accepted. In the event an invoice changes after the lease has been signed, SubmitLeaseReturn endpoint will need to be used. |
Category: Delivery Confirmation
| Lease Status | Description |
|---|---|
| Funded | SubmitDeliveryConfirmations will change the lease status from Lease Accepted to Funded. |
Cancellations & Partial Cancellations
Customers initiating a merchandise return or lease cancellation should first contact the merchant. Merchandise should be surrendered to the merchant, and a credit invoice will be sent by the merchant to Progressive Leasing. Using this credit invoice, Progressive Leasing will refund the customer any funds owed to them for the leased merchandise and will attach the file to the customer’s account. Refer to the Commerce API documentation for further details.
Returns & Partial Returns
Progressive return policy is designed to match any retailer’s return policy. Once the merchandise is returned to the retailer, an automated return process can be integrated. The return transaction includes the lease account number to be credited and individual line items with pricing. All returns are posted immediately to a customer’s account. Daily funding will be netted to include any merchandise returns. Refer to the Commerce API documentation for further details.
Updated over 3 years ago