There are different reasons as to why a failed payment may have occurred. These failed payment reasons are provided by the customer's banking institution to Ezypay.
A failed payment can occur 1 to 3 days after the debit request has been made due to a delay on the payment processor side (Eg: bank accounts). Once Ezypay receives the failed payment notification from the banking institution, Ezypay will map the failed payments and reasons against the customer's record accordingly.
From an integration perspective, the failed payment scenarios include:
- Payment Token Issue
- Insufficient Funds
- Invalid Account Details
- Card/Bank Provider Declines Transaction (Customer to Contact Bank)
The above scenarios can then be mapped against the failed payment reasons that the banking institution had provided to Ezypay. With the failed payment reason, a merchant can then know what action is required in order to recover the failed payment for their customers.
Invoices that have failed or are unsuccessful will be set to the payment status of "Past Due".
Whatever the scenarios or reasons are there are 4 ways that a failed payment can be recovered. These include:
- Rebill the failed payment after X days
- Manual retry via Ezypay's API
- PayNow link via Ezypay's failed payment communication to the merchant's customer
- Write-off failed payment
Updated about 1 month ago