What should I do when a payment fails ?
As buyer or seller, you will occasionally face payment failure issues. Instamojo strives hard to improve your success rate and minimize these issues. Be rest assured we have got your back covered.
We respect your time, and here are a few notes that will help you manage such issues if they occur.
Payment failure occurs primarily because of the following reasons -
Authentication Issues- When a customer enters an incorrect CVV, Expiry Date, Card Number, OTP or 3D secured password.
-> In such situations you may ask your customer to reattempt the payment by providing correct details.
Authorization Issues- This issue occurs when a customer does not have sufficient balance or credit limit to transact or when a bank declines a transaction because of some internal issue.
For example- Corporate cards can be restricted to only POS payments and you may need to enable it for online payments by speaking to your bank. Even if online payment is enabled, it may be for specific online merchants only.
-> In this case you can ask the customer to use an alternate mode of payment or card to transact again.
Now there are some cases where the money will get debited from the customer’s account.
Kindly don’t panic. This issue occurs because the bank debits the amount from the customer and due to some reason is not able to update the payment platform immediately. In this case it is advisable to wait for 24 hours in case the fulfilment is after a day. In case of events and services the fulfilment may be immediate, in those cases we would request you to immediately send an email to firstname.lastname@example.org to check the status.
If you do not get a confirmation in 24 hours then you may assume that the customer would have the money back in their account. If it was originally deducted from the customer's account, then it can take a maximum of 5 working days for it to reflect in their account. The time duration can depend on the bank, but the process is completed within a day's time by Instamojo.
If the fulfilment of the product or service is immediate, we would request you to honour the fulfilment only if you have a confirmation from Instamojo. There may be a situation where customer may have made the payment twice. In such a case, Instamojo will refund the duplicate transaction to the customer’s original mode of payment. The money may take a maximum of 5 working days to reflect in their account.
In case after 5 working days the money is still not reflecting in your account. Kindly send an email at email@example.com to verify.
Why do we ask you to wait for 24 hours ?
Instamojo does reconciliation with the banks 3 times on a working day. Reconciliation involves changing the status of transactions to successful in case the money has been deducted.
Hence in case of a successful payment the maximum time it would take for us to notify is 24 hours. In case you have not received the confirmation then the transaction has failed. There can be some exceptional cases where it takes the bank more than 24 hours to send the status. Such cases are rare.