Invoices
INVOICE SHORT CUTS:
CUSTOMERS: How To Pay An Invoice You Received
MERCHANTS: How To Create And Send And Invoice To Your Customer
Table of Contents
How Mcardit Invoices Work
Mcardit is a privacy protection, fraud prevention and pay-by-bank payment platform that verifies each user’s identity to insure they are who they say they are.
This significantly reduces fraud.
If you have any concerns our highly trained, responsive and friendly support team is standing by ready to assist you.
Merchants can reach our support team at: merchantsupport@mcardit.com
Customers and Payees can reach our support team at: customersupport@mcardit.com
Mcardit Invoice Status Lifecycle
![Invoice Status Lifecycle](https://www.mcardit.com/wp-content/uploads/2024/03/Invoice-Statuses.png)
Mcardit Non Approval Invoice Statuses
These statuses refer to the customer or payee’s status within the Mcardit platform ecosystem and are NOT merchant specific.
![Created](https://www.mcardit.com/wp-content/uploads/2024/03/Created.png)
1.Created
An Invoice was created and is pending approval. You may edit or permanently delete a created invoice prior to approval.
![Scheduled](https://www.mcardit.com/wp-content/uploads/2024/03/Scheduled.png)
2. Scheduled
You can create an invoice today and schedule it to be sent at a future date. You may edit or permanently delete a scheduled invoice.
![](https://www.mcardit.com/wp-content/uploads/2024/03/Pending.png)
3. Pending
Pending invoices are invoice that have been sent to your customer and are awaiting payment. You may edit or permanently delete a pending invoice.
![Balance Due](https://www.mcardit.com/wp-content/uploads/2024/03/Balance-Due.png)
4. Balance Due
You have the ability to provide your customers a "partial pay" option on each invoice. Balance due indicates that your customer has paid less than the full amount due. You may need to resend the invoice to collect the balance. Partial Pay is not an option for recurring invoices. Balance Due invoices can be edited but cannot be deleted.
![](https://www.mcardit.com/wp-content/uploads/2024/03/Past-Due.png)
5. Past Due
Once an invoice's due date has passed, the invoice status will update to "Past Due". To assist in collection, you can edit the invoice to offer a Partial Pay option, if you haven't already. However, "Partial Pay" is not an option for recurring invoices. Past Due invoices can be edited and deleted.
![](https://www.mcardit.com/wp-content/uploads/2024/03/Paid.png)
6. Paid
Your customer has paid your invoice in full. Paid invoices are stamped "PAID" and cannot be edited or deleted.
![](https://www.mcardit.com/wp-content/uploads/2024/03/Cancelled.png)
7. Cancelled
An Invoice was created and cancelled. You may permanently delete a cancelled invoice.
Approval Invoice Statuses
A verified customer can pay any Mcardit merchant in 1-Click. A verified payee can receive funds without any interaction. Verification significantly reduces fraud, protecting merchant, customers and payees from unauthorized transactions.
Pending
An invoice approval request was sent, but not yet approved or declined. Pending Approval Invoices can be edited and deleted.
Approved
Your invoice has been approved and the Invoice status updated to "SEND". This tells you you to send the the invoice for payment. Only the invoice date and due date can be edited (because the invoice was approved). Approved invoices cannot be deleted.
Declined
Your invoice has been declined due to the reason provided. You can edit the invoice and re-request approval or delete the invoice a create a new one.
![Send](https://www.mcardit.com/wp-content/uploads/2024/03/Send.png)
Send (Approved Invoice)
"Send" tells you an Invoice you sent for approval was approved and now it's time to send it for payment. Only the "due" date and "invoice" date can be edited (because the invoice as approved) for "Approved" invoices. Approved invoices cannot be deleted. (see Invoice Approval Status below).
![Fix](https://www.mcardit.com/wp-content/uploads/2024/03/Fix.png)
Fix (Declined Invoice)
"Fix" tells you an invoice you sent for approval was declined and now it's time to fix it and re-request approval. Declined invoices can be edited and deleted. (See Invoice Approval Status below).
Invoice Frequency
A verified customer can pay any Mcardit merchant in 1-Click. A verified payee can receive funds without any interaction. Verification significantly reduces fraud, protecting merchant, customers and payees from unauthorized transactions.
One Time
An invoice approval request was sent, but not yet approved or declined. Pending Approval Invoices can be edited and deleted.
Recurring
Your invoice has been declined due to the reason provided. You can edit the invoice and re-request approval or delete the invoice a create a new one.
Mcardit Invoices On Desktop
Mcardit uses MX to connect customer / payee bank accounts to the platform without disclosing their account number or their online banking login. Mcardit initiates financial transactions between the merchant and customer / payee through a notification process that instructs one of it’s ACH processors to debit or credit this connected account.
Mcardit Invoices On Mobile
![Mobile Browser Select](https://www.mcardit.com/wp-content/uploads/2024/03/Mobile-Brower-Select.png)
Mcardit Mobile Built For Chrome
For the best experience, please use the Chrome mobile browser when using Mcardit on your mobile device.
Pay Invoice Via iPhone (IOS)
Install Chrome On iPhone (IOS)
![Bank Connected](https://www.mcardit.com/wp-content/uploads/2024/01/Bank-Connected-revised.png)
Connected
The customer / payee has connected one or more financial institutions
![Bank Not Connected](https://www.mcardit.com/wp-content/uploads/2024/01/Bank-Not-Connected-2.png)
Unconnected
The customer / payee has no connected financial institutions
Merchant Specific Status
These statuses refer to the customer or payee’s connection to a merchant specific.
Financial Transaction Status
These statuses refer to the financial connection between a specific merchant and their customer / payee.
![Paid Icon revised](https://www.mcardit.com/wp-content/uploads/2024/01/Paid-Icon-revised.png)
Paid
At least one payment has been made between the merchant and the customer / payee.
![Unpaid Icon revised](https://www.mcardit.com/wp-content/uploads/2024/01/Unpaid-Icon-revised.png)
Unpaid
No payments have been made between the merchant and customer / payee.
Address Release Authroization Status
These statuses refer to the release of a customer / payee’s address to a specific merchant. Merchant’s can invoice to a customer or send a payment remittance to a payee without authorized release of the address and phone, but only customer’s and payees can update their address and phone once verified.
![Authorized](https://www.mcardit.com/wp-content/uploads/2024/01/Authorized.png)
Authorized
The customer / payee has authorized the release of their address and phone to a merchant or a financial transaction has been successfully completed between the two
![Pending](https://www.mcardit.com/wp-content/uploads/2024/01/Pending.png)
Pending
A merchant has requested the release of a customer / payee's address and phone, but the customer / payee has not yet authorized it's release.
![NA](https://www.mcardit.com/wp-content/uploads/2024/01/NA.png)
Not Requested / Not Accessible
A merchant has not requested the release of a customer / payee's address and phone or this information is not accessible to a specific merchant.
![Added](https://www.mcardit.com/wp-content/uploads/2024/01/Added.png)
Added (Non Confirmed)
A merchant has added a customer / payee via the merchant dashboard, but the customer / payee has not yet authorized it's release and has not yet been verified
![Declined](https://www.mcardit.com/wp-content/uploads/2024/01/Declined.png)
Declined
A merchant has requested the release of a customer's address and phone but the customer / payee has declined it's release to the specific merchant that requested it.
Consumer (B2C) Verification Process
Upon registration each consumer is required to provide their legal name, billing address, mobile phone number, valid email, the last 4 digits of their Social Security Number and their Date of Birth. Mcardit utilitizes a suite of verification tools that include Socure to compare the the information provided to the Identity and Know Your Customer (KYC) databases.
The Verification process occurs in under 0.9 seconds and is entirely electronic.
A consumer either passes verification or fails verification.
Verification remains in place until two or more identifying fields are updated.
Only the consumer can update their contact information, once verified. Only merchants authorized by the consumer are able to view a consumer’s contact information until a financial transaction between the consumer and merchant has been successfully completed.
Bank accounts are not shared with Mcardit nor merchants. The connection of a bank account to the Mcardit platform establishes an authorization for transactions submitted to an Mcardit 3rd party ACH processor.
Business (B2B) Verification Process
Upon registration each business is required to provide a beneficial owner’s name, the business legal name, billing address, phone number, valid email and the business’ Employer Identification Number (EIN) also referred to as the Tax Identification Number (TIN). Mcardit utilizes verification tools that include TINCheck to compare the the information provided to the Identity, OFAC and Know Your Business (KYB) databases.
The Verification process occurs in under 0.9 seconds and is entirely electronic.
A business either passes verification or fails verification.
Verification remains in place until two or more identifying fields are updated.
Only the business can update their contact information, once verified. Only merchants authorized by the business are able to view a business’ contact information until a financial transaction between the business and merchant has been successfully completed.
Bank accounts are not shared with Mcardi nor merchants. The connection of a bank account to the Mcardit platform establishes an authorization for transactions submitted to an Mcardit 3rd party ACH processor.
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