Unpaid status despite payment confirmation?
Payment Processing on Our Platform: What You Need to Know
We understand that the payment process can sometimes be a source of confusion and frustration for our users. To help clarify things, we've put together this guide to explain how payments work on our platform.
The payment process on our platform begins with the participant's bank, which initiates the transaction. This is followed by our platform's bank, which receives the information sent from the participant's bank and confirms the payment status on either PayPal or Visa/Mastercard accounts.
Once the transaction is approved, you should see the payment confirmation on your app or website within a few seconds to a few minutes. However, it's important to note that the actual funds settlement between banks can take hours to days, depending on the payment rail used.
For bank-based instant transfers, such as UPI in India, transactions are processed and reflected in real-time or within seconds. This is thanks to instant settlement systems that interact directly with banks and payment providers for immediate visibility of funds.
For PayPal or card networks like Visa/Mastercard, transaction approvals generally take 2-3 seconds, after which the user interface reflects the payment. However, the final settlement (when funds are actually moved between banks and merchant accounts) can take several days due to batch processing and clearing cycles.
Platforms like Plaid and Nuvei aim to provide near-instant verification and payment posting, making the payment visible on the user interface as quickly as a click or within seconds. This minimizes delays caused by internet connections or manual input.
It's worth mentioning that internet connection delays may add a small additional latency but do not typically affect the core transaction processing time significantly. Most modern systems use asynchronous processing to update interfaces as soon as backend confirmation is received.
We appreciate your patience during the payment process and apologize for any inconvenience caused by the delays. If a payment does not immediately appear, it may be necessary to check again in a couple of days. Please note that our platform does not provide real-time updates on the payment status.
We thank you for choosing our platform and hope that this guide has helped clarify the payment process for you. If you have any further questions, please don't hesitate to reach out to our customer support team.
[1] Source [2] Source [3] Source [4] Source [5] Source
- In the realm of finance and architecture, our customer support team is currently working on improving the user interface and payment flow of our platform, aiming to make the transaction process as seamless as a modern, well-designed building.
- While the approximately 2-3 seconds confirmation time on payment rails like PayPal or card networks might resemble swift communication channels in the intricate network of financial architecture, the final settlement process can take several days due to batch processing and clearing cycles.
