Transactions are classified into credits and debits and all transactions are processed via users’ wallets.
- Credit transactions are transactions deposited into a user’s wallet such as;
- Loan disbursement
- Card activation
- Wallet funding
- Debit transactions are transactions deducted from the user’s wallet such as;
- Bank transfers
- Loan repayment
Transaction statuses
There are five transaction statuses, and each has a unique color code indicating its status. You can easily tell the status of a transaction by the color code shown.
| Transaction Status | Description | Color Code |
|---|---|---|
| SUCCESSFUL | This means the transaction has been processed successfully | Green |
| PENDING | This means the transaction is neither failed nor successful, the exact status is yet to be determined. Typically, the exact status is updated within a few hours | Yellow |
| FAILED | This means the transaction failed i.e. funds were not debited from the originating account/wallet. If funds were debited, then there would be a reversal. | Red |
| REVERSED | This means the transaction was reversed to the originating account/wallet | Grey |
| ABANDONED | This means the transaction was initiated by the user but was not completed | Grey |