A payment return occurs when funds sent through a payment route are sent back instead of remaining credited to the intended Recipient. A return can result from invalid or closed account details, beneficiary-bank rules, compliance decisions, duplicate payment, or another route-specific reason.
Quick reference for Payment return
| Check | What it means for the transaction |
|---|---|
| Category | Global B2B payment operations |
| Record to keep | Keep the instruction, party and account identifiers, validation result, timestamps, institution references and reconciliation outcome. |
| Do not infer | Initiation, processing, clearing and settlement are different events. One status should not be used as proof of another. |
Payment return and nearby terms
- Failed payment: A failed payment is a payment that did not complete through its intended route.
- Payment reconciliation: Payment reconciliation matches money sent or received with invoices, bank or payment-provider records, fees, exchange differences, and accounting entries.
