Description: The transaction status indicates the current state of a transaction, such as pending, completed, or failed. This concept is fundamental in e-commerce platforms, where each transaction can go through different stages before being finalized. Transaction statuses allow merchants and customers to have a clear view of the progress of their orders. For example, an order may start in a ‘pending’ state while waiting for payment confirmation, then change to ‘completed’ once it has been processed and shipped, or to ‘failed’ if there was an issue during the payment process. These statuses not only help manage a business’s internal workflow but also enhance the customer experience by providing updates on the status of their purchases. Additionally, transaction statuses can be customized according to the business’s needs, allowing merchants to tailor the system to their specific processes. In summary, the transaction status is an essential tool for efficient order management in e-commerce, facilitating communication and tracking for both sellers and buyers.
