What To Do When Online Transaction Fails?

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Transacting online has made our lives easier than before. We have the option to skip the long queues in bank or with other important works at hand we can choose not to be physically present somewhere to get the work done. Be it making mobile recharges, DTH connection recharges, booking tickets, e-commerce handling, and online shopping or making payment to a third party, digital platforms provide a great help. Today just with some clicks away we are able to save a lot of time of ours. Life has become very convenient and expedient with the process. The dependence on traditional banking models once is gradually being shifted towards a cashless society, where transactions would be online, thus ensuring transparency in monetary dealings.

What to do when online transaction fails

However, it’s a fact that every good thing welcomes a problem along with it. The same is the case with online transactions as well. When we start a transaction process online, a series of simultaneous actions takes place involving all the parties concerned. While it might be a successful transaction but a minute disturbance in this chain series can pose a hindrance in the process resulting it to fail. It’s true that many a time we have issues regarding digital payment platforms and all of us have sometime or the other faced similar problems. There can be a variety of reasons for the failure of online transaction. Let us discuss the reasons of failure and what you should do in such cases. The following can help you relate to your problems and the necessary steps you need to adopt for rescue:



1. The Issuing Bank– The bank account from where the money is getting transferred or withdrawn can have issues like slow internet connection, insufficient balance in your account, etc. which can create a failure. Contact the customer care of your bank immediately to inform and enquire about the dealings.

2. The Processing Platform– Research and choose a proper processing platform that would ensure security of your bank account details and card details. Normally the present platforms are safe and do not reveal any personal information to any third party but it’s always better to remain secure from your end.

3. The Acquiring Bank– Cross-check with the party if they have received the payment in their account. Inform the concerned banks in the process. Also when you are initiating a transaction, first try with a minimum amount to ensure clear and safe processing and then transfer the entire amount.

4. User authentication error– Be exact and precise about the credentials that you enter. Putting in the wrong credentials like, wrong card number, will not help the transaction to take place any further. Also if wrong account password is provided by you thrice at a stretch, then your account might get locked for safety issues. In some cases, if the account number of the other party is incorrectly entered, then the entire payment you make will go on to a different bank account of someone else and you will lose the money and the deserving party won’t get a penny.

5. Inadequate balance– Before transacting, check whether your bank account has sufficient balance in it. Deficient balance will not be able to execute your transaction further. A request of debiting an amount more than your balance will fall flat.

6. A few wrong clicks– A few wrong clicks here and there will not give you a fruitful result. Refreshing the page just may not help. So make sure that you follow the proper procedure. You may take the help of customer care or surf through the internet to get a better overview.

7. Downtime for Net-banking– The time when you plan to transact, might get coincided with some website repair work of your bank that might cause you trouble while transacting. Sometimes there may also be a rush. Hence the process gets delayed.

8. Network issues– Check your network connection. Error in the connection may cause delay or no transaction taking place at all.

Using digital wallets or e-wallets, credit or debit cards and net-banking are some of the great options that you can avail but the necessity for a proper transaction to take place is a system or gadget and an efficient internet connection. An amalgamation of features that combine payment gateways and integrated systems discourses liquidity issues thereby minimizing delays and maintaining online transaction reliability ensuring real-time processing.

Be aware of the situations when an amount has been debited from your account without being credited to the selling party. Avail the customer care services and inform the concerned banks so that they can take necessary steps immediately. With increasing dependency on online transactions, the whole process is also being upgraded from time to time to ensure smooth functioning devoid of errors.

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