Ever experience a declined payment? This payment occurrence has the potential to turn a supposed seamless transaction into a difficult ordeal. Whether someone is trying to buy a must-have item online or simply settle a bill, few situations are as frustrating as an unexpected "declined" message.
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This article will explain declined payments, detail some of the common causes behind these events, and suggest possible actions people can take to help prevent and solve them.
A declined payment is simply when a financial transaction — such as a credit card purchase on an online store — fails to go through. The seller or middleman may decline to process the payment due to various factors. If this happens, buyers will typically receive an error message at the checkout explaining that their payment is unsuccessful.
There are several reasons an individual’s payment method could be declined. Here are some examples:
When someone sees their payment has declined, they may consider the following steps:
Card payments are not the only payment method that can result in declined payments. Payments via digital apps and wallets may also result in declined payments.
Individuals may need to take immediate action to understand the cause of the decline. Clear and timely communication with banks, card issuers, and payment providers may help get to the bottom of the issue quickly.
Here are some potential tips:
There are steps that can help reduce the chances of failed payments. Here are some examples:
Learn more about safeguarding transactions when shopping online.
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