BNPL & POS lending software: full specification

Instalments at online checkout and in stores, with decisions in seconds, merchant portals and automatic payouts.

1. Customer sign-up

No.	Feature	What it does
1.1	Sign-up at checkout	A short form inside the checkout; returning customers sign in with a one-time code.
1.2	Pre-filled data	Name, address and basket come from the store.
1.3	Phone and email checks	One-time codes confirm the customer's contacts.
1.4	Customer and store notifications	Both get the decision and contract status at once.TwilioSendGridWhatsApp Business

No.	Feature	What it does
2.1	Decision strategy	Limits, scoring and fraud checks run while the customer is still on the payment step, usually under 30 seconds.
2.2	Schedule calculation	Split in 4, monthly instalments or pay later, calculated for each customer.
2.3	Behaviour data	Device and checkout behaviour are saved for scoring and fraud rules.
2.4	Pre-approved limits	Returning customers see their available limit before they start.

No.	Feature	What it does
3.1	Checkout plugins and API	Widgets for web checkouts and an API for custom flows.
3.2	In-store flow	Staff fill in the application on a tablet, or the customer scans a QR code at the till.
3.3	Merchant portal	Orders, refunds, payouts and statements for each store.
3.4	Merchant terms	Fees, limits and payout schedule per merchant and category.
3.5	Merchant payouts	Automatic payouts minus your fee, daily or weekly.VoPayWiseVoltForm3VolanteThreddPaymentology

No.	Feature	What it does
4.1	Sign-in and password recovery	Sign-in by phone and password or one-time code, with a limit on attempts and recovery by SMS.
4.2	History	Current and past instalment plans, applications, payments and signed documents in one place.
4.3	Repeat instalment plan	Repeat borrowers apply in a few taps; their details are already filled in.
4.4	Documents	Agreements, schedules, extension terms and receipts are generated for each instalment plan and signed in the portal.PandaDocOne-time SMS code
4.5	Payments in the portal	Pay the next instalment or the whole instalment plan by card, bank transfer or wallet.
4.6	Early and partial repayment	The schedule and the amount due are recalculated right away.
4.7	Notifications	SMS, email, push and WhatsApp messages from a ready set of templates.TwilioSendGridWhatsApp Business
4.8	Hints and banners	Tips and offers inside the portal, shown by segment.
4.9	Banners	Offers from partner stores inside the portal.

No.	Feature	What it does
5.1	Card payments	One-off and saved-card payments.ThreddPaymentologySquare
5.2	Direct debit and auto-pay	Payments are collected automatically on each due date.GoCardlessVoPay
5.3	Bank transfer	Incoming transfers are matched to loans by reference or account.
5.4	Instant payments and wallets	Repayment through local instant payment schemes and mobile wallets.GoCardlessVoPaySquareVoltWise
5.5	Cash	Payments at branches, agents and partner stores.
5.6	Payment routing	Route card payments between processors by card type, amount or success rate.
5.7	Reconciliation	Bank and processor statements are loaded daily and compared with payments; differences go to review.

No.	Feature	What it does
6.1	Credit bureaus	Pull credit reports and scores, and report loan data back to the bureaus on a schedule.ExperianEquifaxTransUnionCreditinfo
6.2	Identity and liveness	ID document check, selfie and liveness test.JumioOndato
6.3	Open banking	Income, spending and account ownership from the borrower's bank data, with consent.PlaidFlinksillionSalt Edge
6.4	Sanctions and PEP screening	Checks at onboarding and again on a schedule you set.OFACUNEUUK HMTPEP lists
6.5	Fraud signals	Device, email, phone and behaviour checks feed your fraud rules.
6.6	Your own scoring	Ready connection to your in-house or third-party scoring models.
6.7	Other data sources	Any provider can be added through the API; 1,700+ connectors are ready in 172 markets.

No.	Feature	What it does
7.1	Products	Create instalment products with amounts, terms, schedules, fees and penalties in the admin panel. Existing loans keep their terms.
7.2	Decision strategy	Rules, scorecards and limits in a visual editor, with versions and test runs.
7.3	Reference lists	Edit reference lists such as branches, reasons and document types.
7.4	Message templates	Edit every SMS, email and portal message, in several languages.
7.5	Verification questions	Set the questions verifiers ask, per product.
7.6	Loyalty and promo codes	Points for on-time payments, levels and promo codes.
7.7	Users	Create staff users and give them roles.
7.8	Reminder and collection strategies	When and how to remind, retry and charge late fees.

No.	Feature	What it does
8.1	Client and loan view	Staff see applications, instalment plans, payments and borrowers, limited by their role.
8.2	Edit borrower data	Change details entered by the borrower or staff; every change is logged.
8.3	Applications by staff	Create an application from the back office, for example at a branch or over the phone.
8.4	Tasks and queues	Underwriter decisions, verification questions, payment errors and collection calls land in queues by role.
8.5	Decision override	An authorised person can change an automatic decision, with the reason saved.
8.6	Status changes	Cancel, freeze or close a instalment plan, for example on a dispute or a court case.
8.7	Collections	Soft and hard collection queues, collector and supervisor workspaces, hand-over lists for agencies.
8.8	Messages	Send SMS and email to one borrower or a segment.TwilioSendGridWhatsApp Business
8.9	Local time	Staff see the borrower's local time before calling.
8.10	Blocklist	Block a borrower's portal or add them to an internal blocklist.
8.11	Reports	Standard management reports and statistics.
8.12	Roles and permissions	Roles with field-level access, a four-eyes rule for sensitive actions and an audit log.
8.13	Orders and goods	See the goods, order and payments behind each plan.
8.14	Refunds and cancellations	Full or partial refunds recalculate the plan automatically.

No.	Feature	What it does
9.1	Accounting	Entries for every operation go to your general ledger.QuickBooksXeroNetSuite
9.2	Regulatory reporting	Data for regulator reports in your market's format.
9.3	BI and data warehouse	Documented database and exports to your BI tools.Power BITableauLooker
9.4	Refunds and chargebacks	Cancellations, refunds and chargebacks are tracked and posted to the ledger.

No.	Feature	What it does
10.1	Data migration	Move clients, active loans and payment history from your current system; every balance is checked after the move.
10.2	Blocklist without a profile	Block a phone, ID or device even if the person has never applied.
10.3	Declined traffic	Send declined applicants to partner lenders automatically, if you choose to.
10.4	Deployment	Our cloud, your private cloud or your own servers, with the same features everywhere.

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