What do the transaction statuses mean in our system?
Here at Octuspay, the different states of transactions are indicated by distinct colors. Each color represents the current status of a specific transaction. To view your list of transactions, simply access your dashboard and click on the "Sales" section. There, you'll find all your sales listed, along with the current status of each, as shown below:
Refunded: means that the money paid for a product or service has been returned to the customer. This can happen for various reasons, such as dissatisfaction with the product, cancellation of a service, or a money-back guarantee policy. When a customer is refunded, they receive back the amount they paid*, usually in the form of credit to their bank account, a credit card chargeback, or through another agreed-upon payment method between the customer and the supplier.
*Minus taxes (IOF) that are applied to each sale.
Rejected: means that the financial transaction was not authorized or approved by the credit card issuer, bank, or payment provider. This can happen for various reasons, such as insufficient funds, suspicion of fraud, incorrect card information, among others. When a payment is rejected, it means the transaction will not be completed, and the amount will not be transferred to the recipient. The customer may need to check with their bank or payment provider to understand the reason for the rejection and resolve the issue.
Payment pending: refers to a financial transaction that has not yet been completed or processed. This can occur for various reasons, such as:
- The payment is awaiting approval from the bank or payment provider.
- The payment is undergoing security or anti-fraud checks.
- There may be a delay in payment processing due to technical issues.
- The payment may be subject to specific bank or card network rules or procedures.
- Payment pending may also occur if the multibanco option is active. To deactivate it, it is necessary to: access the sales dashboard > apply the following filters:
- Status > Payment Pending > Payment Methods > Multibanco.
The multibanco option needs to be deactivated, as it comes activated by default on the platform. Because it is an exclusive payment method in Portugal, the end customer may be confused, thinking they can make the payment using more than one bank, and at that moment, the transaction becomes pending.
While the payment is pending, it will not be considered finalized, and the corresponding funds will not be transferred to the recipient. The payment status may be updated to "completed" or "rejected" after processing. This purchase may also be considered atypical compared to the end customer's consumption pattern; therefore, the purchase is analyzed by the customer's bank, and in the next few days, it may be approved or rejected, depending on this analysis.
It is worth noting that these analyses of pending sales are not platform rules but are security procedures of the customer's own card. Depending on the card network and the bank, these financial rules may change, with each institution having a specific timeframe for completing these analyses.
Approved payment: means that a financial transaction has been authorized and processed successfully. This indicates that the payment has been accepted by the payer's bank or the payment service provider and that the funds have been transferred successfully to the producer. When a payment is approved, it generally means that all security checks and authorizations have been successfully completed. The payment is considered valid, and the corresponding funds are available for use. This status confirms that the transaction was successful and that the payment was completed as expected.
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