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REVENUE RECOGNITION (Tables) | 3 Months Ended
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Mar. 31, 2021
Revenue from Contract with Customer [Abstract] |
Schedule of Liability for Customer Credits | The following table summarizes the activity in the liability for customer credits for the three months ended March 31, 2021 (in thousands):
| Customer Credits
Balance as of December 31, 2020 | $ | 61,006 |
Credits issued | 50,051 |
Credits redeemed (1) | (41,283) |
Breakage revenue recognized | (6,205) |
Foreign currency translation | (745) |
Balance as of March 31, 2021 | $ | 62,824 |
(1)Customer credits can be redeemed through our online marketplaces for goods or services provided by a third-party merchant or for merchandise inventory sold by us. When customer credits are redeemed for goods or services provided by a third-party merchant, service revenue is recognized on a net basis as the difference between the carrying amount of the customer credit liability derecognized and the amount due to the merchant for the related transaction. When customer credits are redeemed for merchandise inventory sold by us, product revenue is recognized on a gross basis equal to the amount of the customer credit liability derecognized. Historically, customer credits have primarily been used within one year of issuance; however, usage patterns have been impacted from changes in customer behavior due to COVID-19.
Schedule of Costs of Obtaining Contracts | Incremental costs to obtain contracts with third-party merchants, such as sales commissions, are deferred and recognized over the expected period of the merchant arrangement, generally from 12 to 18 months. Deferred contract acquisition costs are presented within the following line items of the condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 (in thousands):
| March 31, 2021 |  | December 31, 2020
Prepaid expenses and other current assets | $ | 973 |  |  | $ | 1,009 |
Other non-current assets | 5,957 |  |  | 5,315 |
Schedule of Expected Credit Losses on Accounts Receivable | The following table summarizes the activity in the allowance for expected credit losses on accounts receivables for the three months ended March 31, 2021 (in thousands):
| Allowance for Expected Credit Losses
Balance as of December 31, 2020 | $ | 9,756 |
Change in provision | (244) |
Write-offs | (292) |
Foreign currency translation | (3) |
Balance as of March 31, 2021 | $ | 9,217 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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