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REVENUE RECOGNITION (Tables) | 9 Months Ended
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Sep. 30, 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 nine months ended September 30, 2021 (in thousands):
| Customer Credits
Balance as of December 31, 2020 | $ | 61,006 |
Credits issued | 173,476 |
Credits redeemed (1) | (134,147) |
Breakage revenue recognized | (21,084) |
Foreign currency translation | (1,034) |
Balance as of September 30, 2021 | $ | 78,217 |
(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 Expected Credit Losses on Accounts Receivable | The following table summarizes the activity in the allowance for expected credit losses on accounts receivable for the nine months ended September 30, 2021 (in thousands):
| Allowance for Expected Credit Losses
Balance as of December 31, 2020 | $ | 9,756 |
Change in provision | 517 |
Write-offs | (1,431) |
Foreign currency translation | 44 |
Balance as of September 30, 2021 | $ | 8,886 |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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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=123351226&loc=SL49130551-203045 + Details
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