What are failed transaction charges?

NayaPay incurs charges for both successful and failed transactions. Unfortunately, we observed a high rate of declined transactions among some users who were not responsibly using their cards on foreign websites. As a result, we have to cover the associated fees charged by the card scheme.

Failed transaction charges are only applicable to international transactions. 

International transactions that fail due to insufficient funds in your wallet or due to card controls, such as a frozen card, will be counted toward your failed transactions limit. Failed transactions can also occur if attempting transactions with sanctioned countries.

To ensure the affordability of our platform and account for genuine mistakes, all users have a limit of 5 failed international transactions on their card before fees are due. We want to emphasize that the fees we charge the user are actually a fraction of what we are charged by the card scheme.

As long as you stay within the limit of 5 failed transactions or have no failed international transactions, you won't have to worry about these charges!

What will happen if I exceed my failed transaction limit?

Once the limit of 5 failed transactions is reached, a fee of USD 1 (+tax) will be charged to restore card privileges and reset the counter. Unfortunately, additional failed transactions will lead to your card being blocked, after which you will have to order a new one (replacement charges apply).