...

Although the processing cycle varies slightly for different payment types (i.e. Saletransactions differ from eCheck payments), there are several standard statuses that a payment may have throughout this process.

What are the transaction statuses and what do they mean?

• Approved - The payment submitted by a Merchant was authorized by the issuing bank, confirming the availability of the funds, in addition to validating the cardholder’s submitted CVV & AVS (address) information. The funds related to an Approved transaction will not be sent to the Merchant’s Payrix account until the payment is submitted to Captureand Settleas part of the Merchant’s daily batch.
  

• Captured - The Captured status means an approved payment was sent to the processing bank as part of their daily batch to begin the process of transferring funds from the cardholder to the Merchant’s Payrix account.
  

• Settled - Settled indicates that the process of transferring funds between the cardholder and the Merchant’s Payrix account is now completed, and the money is now part of the Merchant’s Available Balance.
  

• Failed - This status indicates that the attempted transaction failed authorization by the cardholder’s bank, and thus, the payment is invalid and will not be Captured or Settled.
  

• Refunded - After a payment is already Settled, a Merchant can reverse it by issuing a refund back to the cardholder’s bank. The money related to a refunded transaction will then be deducted from the Merchant’s Available Balance.

...