Resolving UPI Payment Discrepancy- Merchant Awaiting Payment Status – Next Steps – www.deekpay.com

Resolving UPI Payment Discrepancy: Merchant Awaiting Payment Status – Next Steps | At Paytm Payments Bank, we understand the importance of seamless, hassle-free transactions for our valued customers. Unified Payment Interface (UPI) is the cornerstone of digital payments, offering instant, fee-free transfers between bank accounts. We have strived to make financial transactions effortless for you through our Paytm app.Using the Paytm app, you can transfer funds between any bank accounts with ease, thanks to the UPI service powered by the National Payments Corporation of India (NPCI). Whether you use a mobile number, QR code, UPI ID, or account number, your transactions are swift and efficient, usually crediting the recipient’s bank account instantly. Nevertheless, in rare instances beyond our influence, delays may occur, often stemming from sender or recipient bank-related issues. In such cases, there are steps you can follow to address the situation:Confirm Receiver Details on Your Paytm AppOpen the Paytm appNavigate to ‘Balance & History.’Select the payment under ‘Payment History.’View and share the UPI ID and bank details of the recipient with the merchant for verification.Advise Merchant to verify Payment on their Business AppEncourage the merchant to check the Business App that they are using to confirm the paymentIf Visible on Business App but Not in Bank PassbookIf the payment appears in the merchant’s Business app but does not reflect in their bank account, recommend the merchant to check their payment settlement settings on their Business app.Seek Support from Your BankIf the issue persists, contact your bank to raise a Chargeback request.For Paytm Payments Bank account holders, follow these steps on the Paytm App:Open the app Go to ‘Balance & History.’Select the transaction made to the merchant.Click on ‘Help’ in the top right cornerFollow the chatbot’s instructions to raise a chargeback request.What is Chargeback requestA chargeback request is a dispute made by a customer to their bank to reverse a transaction and reclaim funds from a merchant. To initiate a chargeback, the customer contacts their bank, provides details about the disputed transaction, and the bank investigates the claim and reaches out to the merchant. If the bank finds the dispute valid post investigation, they will reverse the charge and credit the customer’s account.Wrapping it up:UPI elevates the payment experience by enabling seamless, real-time interbank transfers without requiring the recipient’s account details. With the option to effortlessly track UPI transaction status within the Paytm app, users can have confidence in the security of their UPI transactions. After making a transaction, users also have the option to advise merchants to verify the transaction status and amount using the Business appIf users still encounter any issues, they can conveniently raise a ticket through Paytm’s round the clock ‘Help & Support’ service m.p-y.tm/care. Additionally, the transaction history serves as a reliable ledger, keeping track of both credits & debits in the account.Do you Know!What is the transaction limit of payments using UPI on Paytm?You can do a daily transaction of Rs. 1 lakh using UPI on Paytm.  For specific merchant categories, such as investment apps, the Paytm app permits transactions up to Rs 2 lakhs per day. What is the UPI reference number?UPI reference number is basically a 12-digit reference number. You can use your UPI reference number to track your transactions.What If the UPI Payment is unsuccessful?If your UPI payment encounters an issue and is unsuccessful, no funds will be deducted from your bank account. In the rare event of a deduction, your money will be promptly refunded within a few hours. UPI transfers may occasionally encounter difficulties, typically stemming from internet connectivity problems or issues with the sender’s or recipient’s bank. In such cases, you may try again after a short period.What steps should be taken if the merchant declines to acknowledge the UPI payment credit?If the merchant declines to acknowledge the UPI payment credit, you should first ensure that the correct recipient details were provided. If the details are accurate, you may want to contact the merchant directly to discuss the situation and seek resolution.Please be assured that your funds are safeguarded in every situation. Following these steps will effectively address any concerns you may have.Happy Banking !