This article describes YayPay's Credit inquiry module which you can use to support your collection process and decision-making.

Activating the Credit Inquiry Module

To use the Credit Inquiry module in conjunction with your credit service providers:

1. Obtain an API-based account from your credit service provider (Creditsafe, Dun&Bradstreet or CoFace).
2. Contact YayPay Support (support@yaypay.com) or your YayPay Account Rep to activate the Credit Inquiry module.
3. Review the activation of this module in all YayPay instances, or in the default instance configured on the Profile page‍ (I.e. the instance you use the most).

How to Connect Credit Inquiry Providers

Once you have your credit inquiry provider account, use it to connect to YayPay.

1. Navigate to Settings| Payments/Credits and select one of the credit inquiry providers, i.e. Creditsafe, Dun&Bradstreet (D&B) or CoFace.
2. Click on the SET UP button located on the right side of the page.

   

   This opens a configuration dialog of the selected credit inquiry provider.

3. Configure the selected credit inquiry provider.

   To learn about the individual options in the respective configuration dialogs, see the following sections:

   • Creditsafe Configuration

   • Dun&Bradstreet (D&B) Configuration

   • CoFace Configuration

4. Click SAVE to confirm the settings.

5. After the configuration is saved, click CONNECT next to the name of the credit inquiry provider you want to connect.
   

   If you later need to change the configuration settings, click Edit.

Now you are ready to use the credit inquiry search feature.

Credit Inquiry Providers Configuration

In this section, you will find specific configuration details for each credit inquiry provider.

Creditsafe Configuration

To connect YaPay to the Credisafe credit inquiry provider, follow the steps described in the How to Connect YaPay to Credit Inquiry Providers section.

Its configuration is done in the Set up credit inquiry provider dialog where you must specify the following: 

Gateway URL

Specify the Creditsafe Gateway URL address, i.e. https://connect.creditsafe.com/v1/

User name and Password

Specify the credentials of your Creditsafe account.
Contact your Relationship contact at Creditsafe to obtain these credentials, which should be REST API-based. For more information, see the Creditsafe’s Authentication section in the Creditsafe API Documentation.

Dun&Bradstreet Configuration

Follow the steps described in the How to Connect YaPay to Credit Inquiry Providers section to connect YaPay to your Dun&Bradstreet (D&B) credit service provider.

The configuration of your D&B credentials covers the following:

Gateway URL

Configure the D&B gateway URL address as follows:

https://plus.dnb.com

API Key and API Secret

Configure the credentials issued to you by D&B.

CoFace Configuration

To connect YaPay to the CoFace credit inquiry provider, follow the steps described in the How to Connect YaPay to Credit Inquiry Providers section.

Its configuration is done in the Set up credit inquiry provider dialog where you must specify the following:

Gateway URL

Specify the CoFace Gateway URL address.

User name and Password

Specify the credentials of your CoFace account.

API Key

Specify the credentials of your CoFace account.  

Using the Credit Inquiry Search

You can find the Credit Inquiry tab on the Credit page accessed via the main menu:

Credit inquiry search and search results may vary depending on the selected provider.

To perform the credit inquiry search:

1. Select a provider (this selection shows only if you have more than one provider connected). The other options depend on the selected credit inquiry provider.

   
   

2. In Choose Search Method, select the method that will be used for looking up a company. 
   You can search by:
   • Company Name
     You can also specify other optional fields to narrow down the search and refine the search results since there may be similar customer names. For example, you can specify fields such as Tax ID, Address, City, State, Phone number, Company Status (Any, Active or Inactive), etc.
   • Unique ID
     Specify the ID of the company you are looking for.
3. Select a Country where you want to perform the search. The list of countries depends on the selected provider.
4. Click START TO SEARCH.
   The results will appear in the grid on the right.
   
   

Using Credit Inquiry Results

After performing a credit inquiry search, the results will appear in the Search results grid on the right. The columns in the grid vary based on the selected credit inquiry provider.
Clicking on a line in the grid opens the Company Report, which may display different information depending on the provider you selected.

You can download the report as a PDF file by clicking the Download as PDF button located in the upper right corner of the Company Report.

Summary of Company and Credit Status data returned by Creditsafe, displayed in YayPay: 

• Rating - Works on a scale of 1-100 to represent the forecast and likelihood that a Business's payment performance may become delinquent (defined as 90-plus days beyond the terms within the next 12 months), or that the business will go bankrupt. 
• DBT - Days Beyond Terms is the dollar-weighted average number of days that the company pays its non-financial accounts
• Credit limit - A recommendation of the total amount of credit at any one time 
• Derogatory legal- the number and value of tax liens and judgments filed in the last 6 years, plus bankruptcies filed in the last 9 months
  • The total dollar value is shown in the brackets. 
• Possible OFAC - Indicates whether the company is possibly on a list of sanctioned businesses that the US government prohibits from trading with (under the Patriot Act)

Summary of Company and Credit Status data returned by Dun&Bradstreet, displayed in YayPay: 

Rating works on a scale of 5A to HH. It reflects the overall size of the entity from a financial perspective. It may be based on the net worth or issued capital of the entity; the higher the amount, the larger the entity is considered to be. 

A credit limit is a recommendation of the total amount of credit that should be outstanding at any one time. 

D&B PAYDEX number (score) reflects the business's past payment performance.

Summary of Company and Credit Status data returned by CoFace, displayed in YayPay:

DRA Score (Buyer risk evaluation) – Assessment of the level of risk associated with a particular buyer or customer. The score is determined based on various factors such as transaction history, payment behavior, account age, and reported incidents of fraud or disputes. A higher score indicates higher risk, while a lower score suggests a more reliable buyer.

The DRA Score is determined by analyzing factors like the buyer's transaction history, payment behavior, account age, and reported incidents of fraud or disputes. A higher score means higher risk, while a lower score indicates a more reliable buyer.

Credit limit – A recommendation of the total amount of credit that should be outstanding at any time.

Other fields displayed on the report provide specific company information.