Why has my payment failed?
The most common payment issue we see is a declined 05 code, which is a general Do Not Honor response issued by your bank. This doesn’t mean that you don’t have the funds to make the payment. But it does mean that your bank has declined to process the payment.
This payment failure is most often the result of increased security, such as 3D secure, on your card by your bank. We see this most regularly when the customer is using a NZ issued credit card, from an overseas location. Put simply, banks are using sophisticated fraud monitoring systems to identify fraudulent activity, but credit card fraud has become so sophisticated, that to keep you, and your credit card safe, more and more transactions are being picked up.
There are steps that you can take to prevent this from happening, while keeping your credit card safe from fraud.
- You can phone the bank to explain that you are trying to issue a payment and ask the bank to allow the transaction.
- You can register for Verified by Visa or Mastercard Secure Code (you answer additional questions only you know to approve the transaction)
- Your bank/ credit card may have an option to set up two-factor authentication (you receive a one-off code via txt message)