With Open Banking and with Vyne, we look to provide you with as much transparency as we can with how a payment is progressing. We do this through a number of payment statuses, depending on how the consumer is interacting with the Vyne payment flow and also how their bank is processing the payment.
Please see below for each status, what they mean and the recommended action to take.
Tip from Vyne
Make sure you only fulfil orders or remit funds after receiving a Settled status, this is the status that indicates funds have arrived in your account. We CANNOT guarantee the funds if the status is still showing as Completed.
Helpful to know
In the rare occurrence that the payment status is Completed and the customer's bank does not agree to release the funds (but instead returns the funds to the customer's account), the payment status within the Vyne portal WILL NOT change to Failed but remain on Completed.
FAQ's
Why did a payment fail to process?
Payments can fail for a number of reasons - this may be due to insufficient funds, the consumer's bank having concerns over the payment or bank payment limits may apply.
Unfortunately Vyne does not have any visibility as to why a particular payment may have failed - this is entirely up to the customers bank. We would suggest that your customer makes contact with their bank to clarify this further.
A payment has been stuck on Processing/Completed, when will this change to Settled?
It may arise that a customer has completed the Vyne payment journey, the payment has been captured from their account but this is not showing as Settled and instead appears to be stuck on either Processing or Completed.
It's important to note that Vyne makes use of the Faster Payments Scheme, and although payments will generally settle with us instantly, these have a 2 hour SLA, in which time your customer's bank has to process the payment.
In the event that your customer is experiencing extended periods where a payment status is in either Processing or Completed, then it's likely that their bank has applied a temporary hold on the payment. Typical reasons for this could be high transaction values or fraud concerns as well as other possibilities that only their bank will be able to comment on.
If the payment has not Settled within the 2 hour SLA, we would suggest that your customer makes contact with their bank to discuss the payment and clarify any potential hold they've applied.
If any payment status is not clear or you have questions regarding a specific Vyne payment, please don't hesitate to contact us.