Whenever a loan is created by a customer, you will receive a charge (transaction) on your Affirm merchant account with the status: Authorized. This status gives you the option to either Capture (confirm), Void (cancel) or Refund (partially or fully) the charge.
However, the Authorized status has an expiration date of 30 days (the charge must be captured within 30 days or the loan authorization will expire) from the charge creation date. Check more details on charges and statuses in this article.
When you select a specific charge, you will see details about the transaction including the Authorization Expiration Date.
We strongly recommend that you capture, void or refund all your authorized loans within the 30 day time frame. You can avoid that a loan expires by enabling Auto Capture on your Order Management System (OMS). Please be aware that Auto Capture is set to approve/capture all charges, which will basically disable the Void option.
If there are authorized loans that have expired, it’s possible to revive those loan authorizations depending on specific criteria for each transaction. Below you will find the conditions for recovering a loan:
- Loan being requested for revival is not Virtual Card Network (VCN)
- This can cause issues on the money flow
- The item has been shipped:
- The customer has already received the product. You just need to have the customer apply for a new loan and let them know the prior loan is no longer active.
- No down payment has been made
- If the loan was created and a down payment was made, the funds will be refunded to the customer once the loan expires
- Authorization has expired (not confirmation expiration)
- Authorization revival request is related to a technical issue (not a supply issue)
In case the expired authorization does not meet the above criteria, you'll need to work with the customer to either complete payment via another payment method or a new Affirm checkout; if it's the latter, please keep in mind that there is no guarantee that they will qualify for the new amount when applying again.
If the expired loan meets these requirements, please reach out to our Merchant Care team using the help widget found in the Affirm Merchant Portal (located at the bottom right corner of the screen) for further assistance.