Understanding Payment Statuses – Factsheet

TPPs are unsure which Payment Statuses are returned by Bank APIs & what they mean, making it difficult for them to track payments & provide customer support.

What Is A Payment Status?

A Payment Status is a message that indicates how far that a payment has progressed. Payment Statuses are returned by Bank (ASPSP) APIs when TPPs initiate payments or request payment updates on behalf of customers (PSUs) using their application to make payments.  

Payment Statuses are also known as Booking Statuses, Booking Messages, Transaction Statuses, and Payment Request Statuses. 

 

What Payment Statuses Do TPPs Need?

TPPs need to know which Payment Statuses are available and what each one means, so that they can add suitable requests to their applications to check for those statuses through to payment completion. They can then return the correct Payment Status back to their customers via their application, i.e. whether the payment has simply been initiated successfully, is in progress, or is complete. 

Knowing which Payment Statuses are available also helps TPPs manage customer issues. If a customer complains to a TPP that a payment they initiated through the TPP’s application has not been completed, the TPP will check the responses that they received from the bank’s API after payment initiation to determine at what point the payment failed and why.

If TPPs don’t understand what statuses are available or their purpose, they cannot be sure what information to present back to their customers in their applications.

Downloading the full report is restricted to OBE Europe members only. Please login to download.

Share:

Have a question?
Get in touch

* Indicates a mandatory field

On submission of this form you will be sharing your personal data with OBE S.A.S. and its partners. We will process such information for the purposes of reviewing and responding to your request. For more information on how we will process your data and your rights in relation to your data, please review our privacy policy.

You may also be interested in:

The 5th version of Latam Fintech Market, one of the most important industry events in the country, will take place

Lauren will be discussing how to balance innovation and business standards with esteemed speakers from Swift and the Bank of

PLS EU will be taking place 12-13 September at the Hilton Rotterdam and will get into the topics on the

Become a Member

Please fill in the form below to register your interest in joining our OBE Membership programme with us and a member of our team will contact you shortly.

Please note: fields marked with * are mandatory

On submission of this form you will be sharing your personal data with OBE S.A.S. and its partners. We will process such information for the purposes of reviewing and responding to your request. For more information on how we will process your data and your rights in relation to your data, please review our privacy policy.