Transaction Canceled Due to High Risk Try Back Again in 30 Minutes
Why practise online payments get stuck and what can you exercise? 🤔
Hi, I am Tiara and I work in the Finance team at FamPay. I handle reconciliations which pretty much means I take care of your transactions if they get stuck.
Let me explain with an case:
Y'all are excited nigh buying the much awaited Playstation and you finally apply your FamCard for a big purchase and your online payment screen hangs. What exercise y'all do? What does FamPay do to help you?
By the end of this web log, yous will learn the answer to both. Before we dive into this, let's get through the basics.
How does an online payment work?
An online payment involves the following iv parties:
- 🤳 Consumer - who initiates the payment procedure (Yous!)
- 🧾 Payment Gateway - who connects our app to the banks for payment.
- 🏦 Issuing Banking company - the bank from which money is debited. (In our case, this is IDFC Kickoff Bank)
- 🏦 Acquiring Bank - the banking concern into which money is credited.
When anyone makes an online payment, a lot of things are getting candy at the back end, and even if one thing goes wrong, the whole payment process may hang/fail.
This is extremely common for a business organisation, but for a consumer such every bit you, who might be experiencing this for the commencement time, this may be upsetting and frustrating. More so for the users who are making payments of a larger sum.
Before I hash out how I take care of these payments at FamPay, information technology will exist good to know the reasons why these payments may fail.
Bank server Downtime
A Downtime implies when the bank server is down. Hither, the payments get initiated by you and then goes into "Payments processing" state for a long fourth dimension.
These reanimation timings tin be planned or unplanned. On weekends or depository financial institution holidays, a bank server may be down and if you initiate a payment at that time, it may fail. On certain other days, there may exist an unplanned downtime due to some mistake, because of which your payment may fail. Too this downtime could exist from any banking concern'due south terminate, either the Issuing Bank or the Acquiring Bank.
There could exist many other reasons for payments failure, such as
- You entered the wrong OTP
- Internet connectedness failure
- Security concerns
- Transaction limit exceeded
- Transaction amount exceeded the prepaid account balance
- Gamble detected by bank
- Blacklisted account
Simply the major concern I will hash out is Depository financial institution downtime, and how we resolve it at our finish.
What happens when an online payment fails due to reanimation?
Your payment can exist stuck and information technology may testify that the corporeality is debited at your finish, but is not credited to your beneficiary's business relationship. This can happen in both UPI / Card payments.
When this happens, you may
- 😥May non be able to rails your transaction
- 😭May get the status of your transaction as "Payment Processing"
- 😠May go annoyed!!
What you lot accept to remember is
- DO Not make another transaction to the same beneficiary for 48 hours.
- You lot CANNOT cancel a transaction whose status is "Payment Processing".
Why?
Since your transaction is nonetheless processing, you lot will only get to know the status in 48 hours. After 48 hours (i.e. two working days), the payment tin can be:
- 🤩 processed (i.e. your beneficiary can receive the amount), or
- 🙅♂️ failed (i.due east. your casher won't receive the amount).
What does FamPay practise at this time?
- For us, your transaction will be in "Payment Processing" state which means fifty-fifty we don't know the final status of your transaction.
- We look for the condition in the dorsum end for 1 working day. Sometimes, the transaction gets processed in 1 working day and gives the final status as "Candy" or "Failed"
- If a transaction is in "Processing" state even after one working mean solar day, then I manually bank check with the banks and change information technology!! So I will demand one more working day to fix this manually.
- Hence, you take to look for ii working days to get a status and before y'all brand another payment to the same beneficiary.
Refund, In instance the payment's concluding condition is "Failed"
- If the payment fails after two working days, not to worry. We will initiate a refund to your business relationship.
- Please note the payment refund takes 5-7 working days after the status is updated to "failed".
- So cumulatively, information technology may accept ix-10 days since the twenty-four hours you initiate the payment incase of "payment processing" ➡ "failed" state. But practice not worry, as your coin volition be refunded and it's not going anywhere! 🤑
So, the next fourth dimension you lot become to your nearby store to buy something urgently and your UPI payment goes into "Payment processing" state, don't worry. Only ask the shopkeeper to take a picture of the transaction, give them your phone number and also clinch them that if the transaction fails after 2 days, they can call you and you will brand a new transaction. Avert making a second payment / trying to cancel the payment.
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Source: https://fampay.in/blog/why-do-online-payments-get-stuck-and-what-can-you-do/
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