What are the possible reasons for a payment by credit card failed.
Why some credit card transaction get rejected. It is said that consumer input credit card information on merchant’s website and submit it actually a submission to the bank system for a payment request. The payment request firstly will be submitted to the credit card payment gateway. The gateway than pass the payment information to the bank system to get through the verification and to be leveled by risk evaluation. If the risk level reaches up to a certain limit, the bank system will determine a transaction as high risk level and consequently be rejected. The transaction result is returned failed. In the opposite, the feedback of payment is approved.
Then what might cause a payment failed. There are different kinds of reasons and possibilities related to the transaction.
1. Information incomplete, error or stop in the middle of processing: during the consumer input the card information, the insufficient information or error message will cause the bank unable to proceed or decline the payment.
2. Unauthorized transaction: If customer paid with a 3D card and during the payment he did not input the 3D verification code. The system will determine a transaction as unauthorized by the card holder and decline it.
3. Blacklist card, stolen card, fake card: the card paid by the consumer is being blacklisted, or reported as stolen or lost card, or restricted card will be rejected.
4. Card balance insufficient or pass the period of validity: credit card limit insufficient unable to process a transaction; card holder input a wrong expiration year/month or the card has passed the validity period, he/she needs to contact the issuing bank to obtain the information.
5. Risk country or region limitation: If cardholder payment IP is from the high risk region limited by International credit card association, the system will evaluate the transaction as high risk and reject the transaction.