Create loan products
To offer loans with the Pismo platform, start by creating one or more loan products tailored to your customers’ needs. Once your products are set up, you can begin to offer those loans. Refer to Understanding loan offers for more information about loan setup. You can either use the Control Center to set up loan products or the Create loan product API endpoint to create loan products.
When you manage the loan, first, simulate the loan using the Pismo platform’s simulation endpoint to present the customer with a proposed structure and repayment schedule. If the customer accepts the loan and gets approved, proceed to book the loan, confirming all terms and schedules. After booking, disburse the funds to the appropriate recipient, which could be the customer, a supplier, or a merchant, depending on the loan type.
On all loan offers, Pismo automates workflows, tracks loan statuses, and ensures compliance with your institution’s policies and procedures.
The following shows you how to create a BNPL loan on the Pismo platform. For information about the loan lifecycle, see Pismo lending lifecycle.
A BNPL is a type of unsecured loan product that’s typically used by borrowers to pay for items at the point of sale. It often involves a smaller number of installments, such as less than six months, smaller loan amounts (less than USD $2000), low or no interest charges, and funds directed to the seller of the item.
Create BNPL loan product
To create a BNPL loan product, use the Create loan product beta endpoint. The API request example includes these required fields.
| Field | Description |
|---|---|
collateral | Shows whether there’s collateral involved on a loan product. |
currency | The currency the loan product uses. In the example, 986 represents the Brazilian Real (BRL). |
disbursement_method | The disbursement method the loan product uses ( with a type ofNONE, SINGLE, or COLLATERAL_MULTIPLE). |
product_name | Describes the product in 256 characters or less. |
product_type | Defaults to Buy Now, Pay Later or BNPL when using the V2 endpoint. |
processing_codes | Processing codes for each operation during loan lifecycle. Defines loan details, such as penalties and how often repayments occur. |
{
"product_name": "Complete BNPL with Prepayment info",
"product_type": "BNPL",
"processing_codes": {
"booking": [
"bookJ3V1H"
],
"repayment": [
"repayM7QR"
],
"restructuring": [
"restructure6YCZ"
],
"present_value_discount": [
"discount155V"
],
"early_final_settlement": {
"fee": [
"efsMRT0"
]
},
"insurance": {
"booking": [
"insLP28"
],
"repayment": [
"insrepayGH39"
]
},
"disbursement": {
"internal": [
"internalFVVX"
],
"external": [
"externalPVTQ"
]
},
"prepayment": {
"fee": [
"prepaymentDRV0"
]
}
},
"loan_activation_method": "ON_BOOKING",
"currency": "986",
"collateral": "NONE",
"disbursement_method": {
"type": "SINGLE"
},
"interest_plan_ids": [
"712edbb8-5005-4f41-af95-dc2014f4045d"
],
"repayment_hierarchy_code": "HIERARCHY_FEE_FIRST",
"prepayment": {
"penalty": {
"type": "FIXED_AMOUNT", // PERCENTAGE or "FIXED_AMOUNT"
"value": 20.0
},
"lock_in_period": 0, // optional, >= 0
"reduce_option": [
"INSTALLMENT",
"TERM"
] // required, at least one
},
"early_final_settlement": {
"penalty": {
"type": "PERCENTAGE",
"value": 0.1
},
"lock_in_period": 2
}
}After you create the loan product, the API response returns the product_id. Use this ID to simulate a loan.
{
"product_id": "2717a296-124a-47cc-b2a1-91e80dc723eb"
}Updated about 3 hours ago