Late Payments

Receiving payments after they have expired

Late payments occur when cryptocurrency is received after the payment has expired, or is already in a complete or underpaid state. This can happen when the blockchain does not complete the payment in time, the user sends the funds late, or sends additional funds after the initial payment.

Why can payments expire?

End users may never send their funds for the payment and we don't want to leave payment in a pending state indefinitely. So after a certain expiry window is reached, the payment will Expire.

How long before a payment expires?

If expiryMinutes is specified when creating your payment and the payment is still in a pending or processing after that time the payment will be expired. If not specified in the payment request then your configured default expiry in your merchant settings will be used.

For payments that require an FX conversion between the currency that is being paid and the currency of your MID wallet, and no expiryMinutes are specified, and no default expiry setting configured, then our default expiry time of 180 minutes will be used.

How do I know the payment has expired?

You will receive a statusChanged webhook with the status field now showing EXPIRED

How do I know a payment is a late payment

You will receive a transactionLatewebhook meaning funds have been received for a payment with the status of expired, complete, or underpaid. The walletCurrency.actual value is the credited amount in your wallet currency.

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Payment states

Most commonly the payment will still have the EXPIRED status after funds have been received. If an additional payment is received for a COMPLETE or UNDERPAID payment this is still categorised as 'late' and the payments will remain in those states as they are considered final.

What do I need to do following a late payment?

This depends on your configuration, see below:

Configuration	Balance impact	Status
Settle Merchant Wallet	Amount received will be credited to your MID wallet in your wallet currency. No further action required.	EXPIRED
Handle Manually	Amount received will be deposited into the merchant crypto currency wallet. This allows you to refund these funds to end users if you wish. You can also convert this cryptocurrency amount into your MID wallet using a spot FX rate in the BVNK portal.	EXPIRED
Auto Refund	The late payment amount will be attributed to a new refund payout that will be auto-created against your MID wallet.	EXPIRED PENDING(refund)

Late payments process flow

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To learn more, please contact your Account Manager or Integration Manager