Troubleshooting Transactions
Troubleshooting Failed Transactions
Encountering a failed transaction can be frustrating, especially when you’re unsure of the cause. However, there are several common reasons why transactions may fail when using your virtual credit card, and most issues can be resolved quickly. This guide walks you through how to identify the cause of a failed transaction and provides solutions to resolve it.
Common Reasons for Failed Transactions
Insufficient Funds:
Cause: The most common reason for a failed transaction is insufficient funds on your virtual card. If the purchase amount exceeds your card balance, the transaction will be declined.
Solution: Check your card’s available balance through your platform account dashboard. If the balance is too low, recharge your card from your platform wallet and try the transaction again.
Incorrect Card Information:
Cause: If the card number, expiration date, or CVV code is entered incorrectly during checkout, the transaction will fail.
Solution: Double-check that the card details you entered match the information provided in your platform account. Ensure that there are no typos in the card number, expiration date, or CVV.
Merchant-Specific Restrictions:
Cause: Some merchants may have policies that restrict the use of virtual cards, especially for certain product categories or transaction types.
Solution: Verify if the merchant accepts virtual credit cards. If not, consider using a different payment method or contact the merchant for clarification.
Geographic Restrictions:
Cause: Certain virtual card products are optimized for specific regions or countries. If you attempt to make a transaction in a region where your card isn’t supported, it may fail.
Solution: Make sure you’re using a card that’s optimized for the region where you’re making the transaction. If necessary, switch to a card product designed for international or cross-border payments.
Currency Mismatch:
Cause: If the currency of the transaction differs from the supported currency on your virtual card, the transaction may be declined, especially if there’s no currency conversion option.
Solution: Check if your virtual card supports transactions in the currency you’re trying to use. If not, consider using a card that supports multi-currency transactions.
Transaction Limits:
Cause: Your virtual card may have transaction limits, such as a maximum per-transaction amount or daily spending limit. Exceeding these limits will result in a failed transaction.
Solution: Review the transaction limits on your card, which can typically be found in the platform’s Card Management section. If you’ve reached the limit, you may need to wait until the next day or contact support for assistance.
Merchant Payment Gateway Issues:
Cause: Sometimes, the merchant’s payment gateway experiences technical difficulties, leading to declined transactions.
Solution: If the issue seems to be with the merchant’s system, try contacting the merchant directly or attempting the transaction at a later time.
Expired Card:
Cause: If your virtual card has expired, transactions will automatically be declined.
Solution: Check the expiration date on your virtual card and replace the card if necessary. You can request a new virtual card through your platform account.
Fraud Prevention Measures:
Cause: Some merchants or payment processors have strict fraud prevention measures in place that can flag certain transactions as suspicious, leading to a decline.
Solution: If your transaction is flagged as suspicious, you may need to verify your identity with the merchant. Additionally, contact our platform support to clarify and resolve any flags.
Pre-Authorization Holds:
Cause: For some services, especially in travel or hotel bookings, merchants place a pre-authorization hold on your card, which can reduce your available balance and cause future transactions to fail.
Solution: Check your transaction history for pre-authorization holds and wait until the hold is released, or add more funds to your card to cover future transactions.
Steps to Resolve a Failed Transaction
If you experience a failed transaction, follow these steps to identify and resolve the issue:
Step 1: Check Your Card Balance
Log in to your platform account and navigate to the Card Management section to view your virtual card’s balance. Ensure that the balance is sufficient to cover the transaction.
If your balance is low, recharge your card using funds from your platform wallet.
Step 2: Verify Card Details
Double-check that the card details you entered during checkout (card number, expiration date, and CVV code) match the details in your account.
If any information is incorrect, correct it and attempt the transaction again.
Step 3: Review Transaction Limits
Look at the spending limits associated with your virtual card. Make sure that the transaction amount does not exceed the per-transaction or daily spending limits. If you’ve reached the limit, consider using a different card or wait until the limit resets.
Step 4: Confirm Merchant Acceptance
Confirm that the merchant accepts virtual credit cards. Some merchants may not support this payment method, particularly for high-risk or restricted transactions. If the merchant doesn’t accept virtual cards, try a different payment method.
Step 5: Retry the Transaction in Another Region or Currency
If you’re attempting to make a cross-border transaction or using a foreign currency, ensure that your card supports international transactions or currency conversion. If needed, switch to a card that works in the desired region or currency.
Step 6: Contact Customer Support
If the issue persists and you’re unsure of the cause, contact the platform’s customer support team. Provide details about the failed transaction, including the merchant, transaction amount, and any error messages. Our support team will assist you in identifying the issue and provide a resolution.
What to Do If the Merchant Charges You Despite a Failed Transaction
In rare cases, a failed transaction may still result in a pending charge on your card. Here’s how to handle this situation:
Review Pending Transactions:
Go to the Transaction History section of your account to check if the charge is listed as Pending. Pending charges may take time to resolve depending on the merchant’s payment processor.
Wait for the Charge to Drop:
In most cases, pending charges for failed transactions will automatically drop off after a few business days, as the transaction was not completed.
Contact the Merchant:
If the charge remains on your account, contact the merchant’s customer support team. Provide details of the failed transaction and ask them to release any holds or refund the amount.
Preventing Future Failed Transactions
To avoid failed transactions in the future, follow these best practices:
Keep Your Card Balance Topped Up:
Regularly monitor your card balance and ensure you have enough funds to cover upcoming transactions, especially if you use the card for recurring payments or large purchases.
Monitor Expiration Dates:
Be aware of your virtual card’s expiration date, and request a new card in advance of the expiration to avoid interruptions.
Use the Correct Product for Each Transaction:
Choose the right virtual card product based on the merchant type, region, and transaction scenario. Some products are optimized for digital subscriptions, while others work best for retail purchases or international payments.
Enable Notifications:
Set up alerts for low balances, failed transactions, or fraud detection to receive real-time updates on your card activity. This helps you quickly resolve issues as they arise.
Frequently Asked Questions (FAQs)
Why was my transaction declined even though I had enough funds?
There could be several reasons, including incorrect card information, regional restrictions, or merchant-specific policies. Double-check your card details and ensure you’re using the correct product for the transaction.
How can I avoid currency conversion issues?
If you’re making purchases in a foreign currency, use a virtual card product that supports multi-currency transactions. Be aware of any conversion fees that may apply.
Can I retry a failed transaction?
Yes, after resolving the issue (e.g., recharging your card or correcting the card details), you can attempt the transaction again. If the problem persists, contact customer support.
By following these troubleshooting steps, you can quickly resolve failed transactions and ensure that your virtual card works smoothly for future purchases.
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