{"id":6291,"date":"2017-08-09T14:01:32","date_gmt":"2017-08-09T14:01:32","guid":{"rendered":"https:\/\/www.instamojo.com\/blog\/?p=6291"},"modified":"2022-11-04T10:59:55","modified_gmt":"2022-11-04T05:29:55","slug":"online-payment-failure","status":"publish","type":"post","link":"https:\/\/www.instamojo.com\/blog\/online-payment-failure\/","title":{"rendered":"How to handle payment failure without losing any money"},"content":{"rendered":"

We are in the technology era. The online payments makes our work easier and more convenient to handle. But have you imagined if your payment procedure shows gateway issues? The thought of a payment failure gives us goosebumps.<\/p>\n

Each time I clicked \u201cpay now\u201d<\/strong> and saw a “your payment is being processed\u201d<\/strong> screen, I would cross my fingers.\u00a0The anxiety would subside only after seeing a success screen with notifications from the merchant and the bank.<\/p>\n

Why does payment failure affect the payer?<\/h2>\n

So, if online payments are convenient then why do we get anxious each time? There could be several reasons.<\/p>\n

Payment failure can cause anxiety<\/h4>\n

Firstly, it is money! Your real money is involved. Anything to do with money is important and cannot be dismissed as a light matter. Hence, your natural response to any activity that shows a loss of money is, worry!<\/p>\n

Online failed payments take longer to process and refund<\/h4>\n

Secondly, there is no instant gratification. Making payments in stores is an easier experience. You know you can hold the shopkeeper responsible if something goes wrong.<\/p>\n

Whatever amount you give him, you receive an item immediately. We carry this particular behavior while making an online transaction<\/a>.<\/span> Hence, if for any reason you do not receive the email notification, you certainly worry.<\/p>\n

According to research, 60% -70% of consumers who encounter payment difficulties during a transaction won’t go back to the same website to attempt again.<\/b><\/p><\/blockquote>\n

We tend to have this notion even while making online payments and when we do not receive a confirmation, we flip!<\/p>\n

Customers lose trust in online payments<\/h3>\n

Believe me, it plays a major role. In this age of the internet where good and bad content co-exists, trusting a platform for transactions has become increasingly difficult.<\/p>\n

Due to the above reasons, we panic if there are certain errors or failures in payments. If your payment is successful, you will receive a notification from the payment gateway platform (e.g. Instamojo<\/a>) and from your bank.<\/p>\n

When payment failure occurs, it could be because:<\/h5>\n

1. Your amount is not debited<\/strong>\u00a0\u2013 You might receive a message from your bank that the payment could not be processed. You will also see the payment failure screen.<\/p>\n

\"\"<\/p>\n

2. Your amount is debited<\/strong>\u00a0\u2013 In this case, you will be left wondering why you did not see any kind of notification. You should send an email to the payments platform and check the status of that payment.\u00a0<\/strong><\/p>\n

Nevertheless, let me list down a few reasons for payment failure<\/a> and why you should not worry about your money.<\/p>\n

Why do online payments fail?<\/h2>\n

1. Bad internet connection<\/h3>\n

A stable internet connection is absolutely necessary for a transaction to go through successfully. If the internet speed fluctuates heavily then it could affect the transaction. Also, closing the tab or window will result in a payment failure or incomplete payment.<\/p>\n

2. Authorization failure<\/h3>\n

Authorization failure takes place when the payments platform cannot connect with your bank. Such cases do happen frequently. Banks, at times, do not authorize these payments and hence you will see a failure.<\/strong> This goes beyond the control of the payments platform. If your money is deducted then you can check with the bank and the platform.<\/p>\n

Also read: How to protect your online transactions from fraud and cyberhacking\u00a0<\/span><\/a><\/div>\n

3. Authentication failure \u2013 wrong details entered<\/h3>\n

Authentication failure happens when:<\/p>\n