Payment exception scenarios

The final step is to build in handling for end user-driven exceptions that may occur in the payment flow.

As cryptocurrency payments are push payments rather than pull payments, BVNK cannot control when and how much cryptocurrency an end-user is going to send to complete their payment.

Erroneous payments happen mostly because some online wallets that users send their funds from apply some hidden fees to transactions when sending cryptocurrency out.

Some online wallets can also take network fees from the transaction amount instead of adding the network fee amount on top of it. Some wallets (which is quite a rare case) can batch outgoing transactions so it is not immediately sent from the end-user wallet.

There are three payment exception scenarios that need to be considered and handled by merchants:

  1. Overpayments
  2. Underpayments
  3. Late payments

Over payments

Overpayments happen when users send too much cryptocurrency. They can occur when users accidentally enter a number too high (e.g. they intend to send 0.01 ETH but send 0.1 ETH instead).

In this case, the payment will still transition to complete but will deposit the excess cryptocurrency received into your cryptocurrency wallets. You can use the payout functionality to return this to the end-user if required.

Under payments

Underpayments happen when the end-user does not send enough cryptocurrency to fulfil their payment obligation. In some use cases, such as top-ups, this may be acceptable but generally, merchants want to change a result based on this.

This can happen when a user is using an exchange platform that debits network fees from the balance being sent.

In this case, the payment will transition to underpaid instead of complete and the funds received will be deposited into the merchant cryptocurrency wallet.


Accepting under payments

If your use case allows for accepting under payments, your technical implementation manager can set your account up to automatically complete payments even though they are underpaid.

Late payments

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

If payments are received after the expired status, they will be credited to the merchant's cryptocurrency wallet.


What to do with crypto currency in your wallets

In these exception states cryptocurrency is not being converted into fiat, even if your MID is set up to receive fiat payments, to allow you to refund these funds to end-users. You can choose to convert this cryptocurrency from over, under, or late paid payments into fiat at spot rate in the BVNK portal.

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