Jaris is a service provider for B2B loans. Through Preczn’s integration with Jaris, platforms can send anonymized merchant data to Jaris to assess loan eligibility.

Once a merchant qualifies, platforms can use the embeddable Preczn JavaScript component to enable merchants to apply for loans directly with Jaris.

Preczn monitors the loan process and shares real-time status updates as they are received from Jaris.

Overview

Below is a summary of the connection key facts to support your integration.

Supported Features

The following features are supported for this connection:

Merchant Onboarding

Loan Origination

Managing Merchant Eligibility and Sending Anonymized Data

Preczn has integrated with Jaris to share merchant data and anonymized transaction data in order to determine merchant eligibility for Jaris loans.

The Preczn/Jaris workflow is very similar to boarding a merchant. From a high-level perspective, the merchant status flow operates in the following manner:

1. Requirements - The merchant is missing a subset of the data needed for Jaris to start reviewing if the merchant is eligible for a loan
2. Ready - The merchant has the minimal amount of data to board to Jaris
3. PartialBoarded- The merchant data has been sent to Jaris and additional anonymous transactions are being sent. Loan offers may be issued and available to the merchant at this point.
4. Active - The merchant has submitted a loan application to Jaris.

Required Merchant Data

Jaris evaluates if a merchant is available for a loan offer by evaluating a subset of their merchant data (like how long they've been in business) and their ongoing transactions. This allows Jaris to build a profile of the merchant's creditworthiness and the value of a loan that can be offered.

Jaris requires a minimal amount of merchant data to start evaluating if the merchant is eligible for a loan. Note that this minimal data set is the only merchant data Preczn sends to Jaris.
A merchant must have a minimum of the following data:

Starting Boarding

Once a merchant has the minimal required data, the merchant's Jaris status will change to Ready.
At this point, the merchant can be boarded to Jaris to start evaluating if they are eligible for a loan.

To start this process, use the Onboard Merchant to Connection endpoint, specifying Jaris as the connection.
Doing so will queue the merchant to be boarded to Jaris, setting the status to Sent.
When the merchant's data and historic transactions have been sent to Jaris, the merchants' status will change to PartialBoarded. At this point, you will want to monitor if Loan Events are sent for the merchant.

Transaction Transfer to Jaris

Once a merchant has been boarded to Jaris, Preczn will begin communicating anonymized transaction data to Jaris.
The anonymized transaction data transfer only supports sending transaction data that is present in Preczn; transactions residing outside of Preczn are not supported at this point in time.

Transaction transfer occurs in 2 different ways:

1. Historic Volume Snapshot - For merchants that have been processing through Preczn, a 6-month historic roll-up is sent to Jaris. The goal is to increase eligibility given the merchant's historic transaction volume.
2. Streaming - As merchants continue to run transactions through Preczn, Preczn continually anonymizes and transmits each transaction to Jaris.

How Transactions Are Anonymized

Preczn does not send transaction records to Jaris and then mask or hash them. Instead, Preczn builds a separate, minimal transaction report for each transaction that contains only the fields listed in the next section. No cardholder or customer data is ever part of a report: no cardholder name, card number, last four digits, expiration, token, billing or shipping address, email, phone, IP address, order or invoice number, description, or metadata.

The only identifiers in a report are Jaris's own shop ID for the merchant and the Preczn transaction ID. The Preczn transaction ID is an opaque, Preczn-generated identifier that Jaris cannot resolve to any underlying data; it lets Preczn update an existing report in Jaris rather than double count it.

Data Sent with Each Streamed Transaction

Each approved transaction produces one report with the following fields:

The following are not reported to Jaris: authorizations that have not yet been captured, account verifications, zero-amount transactions, and declined or errored transactions.

Data Sent in the Historic Volume Snapshot

The historic snapshot is aggregated, not per-transaction. Preczn sends one report per calendar day, card brand, and currency covering the 6 months before the merchant was boarded. Each report uses the same fields as a streamed transaction, with amount holding the summed approved sale and capture volume for that day, quantity holding the transaction count, status set to POSTED, and externalId set to a deterministic value built from the Preczn merchant ID, day, brand, and currency.

Metrics in the Jaris Portal

Preczn does not send computed metrics such as Monthly GPV. Jaris derives portal metrics from the reports above. For questions about how a specific Jaris metric is calculated, contact your Jaris support team member.

Tracking and Displaying Loans to Merchants

About Jaris Loans

Once a merchant has been PartialBoarded to Jaris, Jaris will begin to evaluate the merchant's transaction data and extend loan Pre-offers to eligible merchants.
These Preoffers and subsequent loan lifecycle events are tracked inside Preczn as B2B loan objects. We'll cover how to retrieve the loans and listen for loans in the following sections:

• Listening for Loan Offers
• Retrieving Loans

The Jaris loan process graduates through each of the following lifeycles:

1. Preoffer - Merchant is eligible for a loan and may choose to fill out a formal application.
2. Application - The application for a formal loan to be granted, pending review.
3. Offer - The formal offer of a loan, including rates and amount. Must be signed and accepted before loan can be originated.
4. Loan - The final state in which money is transferred to the merchant based on terms defined in the offer.

Each of the B2B Jaris loan objects in Preczn will have a corresponding status based on the lifecycle of that particular loan. Merchants are eligible to start originating a loan as soon as a loan is created with a Preoffer Created status:

Listening for Loan Events

Preczn offers loan webhook events in order to communicate when loans are created and updated.
To listen for loan events, you can create a new Preczn webhook or modify existing Preczn webhooks to listen for the following events:

• loans.created
• loans.updated

When a loan is created for a merchant, this is an indication that the Jaris Client Component can be displayed in your application for the Merchant to review the preoffer and fill out the Jaris application. You can read more about this in the Displaying Loans to Merchants section.

Retrieving Loans

If at any point in time you with to retrieve a loan or series of loans for a merchant, you can use the Preczn Loans Endpoints:

• Get Loans
  • The Get Loans endpoint allows you to return all loans for your platform. If desired, results can be narrowed to specific merchants. If you have various loan types (B2B2B or B2B) you may also narrow down the results based on type
• Get Loan
  • Each Preczn loan has a unique ID. The Get Loan endpoint allows you to retrieve the latest loans data from the preczn database.

Displaying Loans to Merchants

When a loan preoffer has been created for a merchant, you will want display the Jaris Connect interface for your merchant to review and accept the offer.
Jaris offers an embeddable component to handle the display of the available offers for a given merchant. To simplify implementation of a Jaris B2B Lending on Preczn, you can embed the Jaris Connect interface on your web interface using a secure, Preczn-hosted JavaScript client.

1. Include the Preczn jaris client on your page

Add the secure, hosted JavaScript reference in the <head> of your page:

<script src="https://api.preczn.com/v1/clients/jaris.min.js?merchantId={{merchantID}}&publicApiKey={{PrecznAPIKey}}"></script>

2. Define the jaris Connect location

Define the location for the button on your page, we suggest containing it within a <div>:

<div id="jaris-container" style="width: 800px"></div>

3. Define the required JavaScript callback function

Define a JavaScript callback function to handle errors:

var jarisCallback = function(errors) {
  console.error(`jaris errors:\r\n - ${errors.join('\r\n - ')}`);
}

If an errors occurred, the errors parameter value will contain an array of strings describing any error conditions.

4. Create a merchant session token (server-side)

Using your private API key, on the server-side, make a request to the Sessions Endpoint to create a new session token for this merchant. A valid session token is required to call the renderOffer function.

5. Render the offer

Call the Preczn JavaScript client to create the button:

<script type="text/javascript">
  Preczn.jaris.renderOffer(sessionToken, "jaris-container", jarisCallback);
</script>

The renderOffer function takes 2 parameters, in this order:

* Denotes a required parameter.

This will load all of the required scripts and stylesheets from both Preczn and jaris into the <head> of your page, and render the jaris Connect offer!

Error conditions

If any error conditions occur - such as invalid merchantId, failed authentication, etc. - then the Preczn jaris script will not load any dependencies or render the jaris Connect offer on your page.
Instead, the error callback function will be called with an array of error strings.

Using with a Content Security Policy

If you are using a Content Security Policy to secure your client-side web application, you will need to extend your policy to allow jaris.min.js to load and connect to the Preczn API, as well as to load the jaris scripts and connect to jaris.

Please add the following directives to your content security policy:

FAQ