Enable financial Inclusion of SMEs by extending Loans, Financial and other digital Services to our retailers
The following solution provides you with an opportunity to work out the problem of merchant's working capital requirements and provide them with small business loans as well as give them savings and investment options. Thus, we provide you an option of lending to our merchants by giving you access to alternative credit data of over 4 lac merchants that further simplifies the loan application and loan approval process. The Pay1 credit score easily helps you gauge every merchant's loan amount requirements and also potential clients based on their transaction history with us, which helps you to present them with options to grow their business by providing financial security and guidance. This is to penetrate the unorganised sector for the financial inclusion of SMEs through the merchants and their customers. A savings option like a recurring deposit, a fixed deposit with a minimum premium option will lead merchants and their customers to be prepared for unprecedented times, increase their financial literacy and open a wide section of the economy willing to save and invest at a click. Have an online platform that needs to reach local stores? We have got you covered! Integrate with us, and soon you will have a wide range from our merchants, wanting to stock their retail stores with your products. This feature also serves as a platform for your business to market your products to our merchants. All the products can be sold at our retail stores, which makes you our key partner and helps the products reach end customers. An animation video clips, explaining how a retailer could use the financial products, ending with a screenshot to apply for APIs
Example with screens
Key Benefits
API Docs
URL: https://loandev.pay1.in/sdk/tokensMETHOD: POSTHEADERS:{ "Authorization": "Basic {base64_encode(@username:@password)}", "Content-type": "application/json",}SUCCESS RESPONSE:{ "status": "success", "t_issued": 1575530517, "request_ref": "ebb1d942-172f-11ea-a540-0242ac11000a", "t_valid": 1575530637, "api_token":"ef74313af92a85f37d37241749af93211bd73c3b56c2b08c78fca27a4dda73221d4190e1166015e7785fde6e3e8d52f893de70d76ad71377a6ed14ae60b2ab4d"}
URL: https://loandev.pay1.in/sdk/customers/<user-id>METHOD: GET / POSTHEADERS:{ "x-api-token": "Basic YWJjOnh5eg==" "Content-type": "application/json"}SUCCESS RESPONSE:{ "status": "success", "email": "abhishek.nayak@pay1.in", "request_ref": "ebb1d942-172f-11ea-a540-0242ac11000a", "voter_id": "https://pay1dms.s3.amazonaws.com/40649947_58_1_20190517132034.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAIP36TMKRJCTDEYVQ%2F20191118%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20191118T000000Z&X-Amz-Expires=135131&X-Amz-SignedHeaders=host&X-Amz-Signature=a6815440b2b3bedd5e410a178c5868c378408eae4d587cfb84f7991168ddd5b4", "married_status": "Single"}
URL: https://loandev.pay1.in/sdk/loans/<loan-uid>METHOD: POSTHEADERS:{ "x-api-token": "Basic YWJjOnh5eg==" // token received from auth api "Content-type": "application/json"}REQUEST PARAMS:{ "type":"4", "user_id":<cust_id>, "loan_uid":"testasdfa01", "processing_fee":"0.50", "amount_offered":"10000", "tenure":"180" // number is days}RESPONSE:{ "status": "success", "request_ref": "ebb1d942-172f-11ea-a540-0242ac11000a",}Here type can be variable as defined below.Types(1-6):1: This Notifies that the user had applied for a loan.2: This Notifies that that partner user has accepted loan application and partner gives final loan offer.3: This notifies that partner has rejected the loan application.4: Offer and Terms and conditions accepted by the customer.6: This notifies that user has rejected the offer
URL: https://loandev.pay1.in/sdk/loans/<loan-uid>METHOD: POSTHEADERS:{ "x-api-token": "Basic YWJjOnh5eg==" // token received from auth api "Content-type": "application/json"}REQUEST PARAMS:{ "type":"5", "User_id":"cust id", "loan_amount": "10000", "tenure":"180", // in days "amount_disbursed": "7000", "loan_uid":"testasdfa01"}RESPONSE:{ "request_ref": "ebb1d942-172f-11ea-a540-0242ac11000a", "status": "success", "loan_uid": "testasdfa01"}
URL: loandev.pay1.in/sdk/loan-repaymentMETHOD: POSTHEADERS: { "x-api-token": "Basic YWJjOnh5eg==" // token received from auth api "Content-type": "application/json"}REQUEST FOR DEFAULT: { "call_date": "2020-02-20", "data": [ { "loan_uid": "PAY1-dd97af33-b019-463a-8428-61e7c27f06ff", "due_date": "2020-02-20", "default_date": "2020-02-19", "emi_amount": 100, "emi_amount_principle": 100, "emi_amount_interest": 0, "reference_no": null, "emi_number": "1" }, { "loan_uid": "PAY1-dd97af33-b019-463a-8428-61e7c27f06ff", "due_date": "2020-02-20", "default_date": null, "emi_amount": 100, "emi_amount_principle": 100, "emi_amount_interest": 0, "reference_no": null, "emi_number": "2" } ]}REQUEST FOR NON-DEFAULT: { "call_date": "2020-02-20", "data": [ { "loan_uid": "PAY1-dd97af33-b019-463a-8428-61e7c27f06ff", "due_date": "2020-02-20", "default_date": null, "emi_amount": 100, "emi_amount_principle": 100, "emi_amount_interest": 0, "reference_no": <unique identifier>, "emi_number": "6" } ]}RESPONSE FOR NON-DEFAULT: { "status": "success", "request_ref": "3d768d0e-53a8-11ea-ad4f-0242ac11001a", "error_repayments": [ ]}ERROR RESPONSE: { "status": "success", "request_ref": "3d768d0e-53a8-11ea-ad4f-0242ac11001a", "error_repayments": [ { "due_date": "2020-02-20", "emi_amount": 100, "loan_uid": "PAY1-dd97af33-b019-463a-8428-61e7c27f06ff", "reference_no": <unique identifier>, "emi_amount_interest": 0, "default_date": null, "emi_number": "6", "emi_amount_principle": 100 } ]}
URL: loandev.pay1.in/sdk/loan-reconciliationMETHOD: POSTHEADERS:{ "x-api-token": "Basic YWJjOnh5eg==" // token received from auth api "Content-type": "application/json"}REQUEST PARAMS: { "data": [ { "loan_uid": "PAY1-dd97af33-b019-463a-8428-61e7c27f06ff", "reference_no": <unique identifier>, "emi_number": "5" } ]}RESPONSE:{ "status": "success", "reconciliation": [ { "loan_uid": "PAY1-dd97af33-b019-463a-8428-61e7c27f06ff", "reference_no": <unique identifier>, "emi_number": "5", "paid_status": 0 } ], "error_enquires": []}ERROR RESPONSE:{ "status": "success", "reconciliation": [], "error_enquires": [ { "loan_uid": "PAY1-dd97af33-b019-463a-8428-61e7c27f06ff", "reference_no": null, "emi_number": "5" } ]}Failure Response Example For all APIS:{ "status": "failed", "desc": "Invalid Call", "err_code": "210", "request_ref": "6ec1691c-1733-11ea-8ba3-0242ac11000a"}Here are the description and type of error codes.Err Codes Description201 Token not in Params202 key not in params203 Token not matched204 Mandatory Parameters Missing205 Something Went Wrong206 Invalid User Not Exists207 Invalid IP208 Please Mention Type209 Invalid Type210 Invalid Call211 Already Disbursed212 Application Already Rejected213 No Authorization in headers214 Invalid username/password215 Invalid/expired token216 x-api-token not in headers217 Invalid Key218 Application already created with this loan id219 Invalid Loan uid220 Invalid Parameters221 Invalid Json arrays passed222 Only limited length allowed
