Delayed payment expired event

Understand the delayed payment expired event.

In modern commerce systems, managing payment timelines is vital for maintaining a seamless transaction flow and ensuring customer satisfaction. The delayed_payment.expired event plays a crucial role in such systems, especially when using the CloudPay method for transactions. This event is specifically designed to trigger notifications when a delayed payment has not been received or has expired. Understanding this event is key for businesses to implement effective strategies for tracking payment failures, notifying customers, and taking necessary actions like order cancellations to mitigate potential revenue loss and maintain operational efficiency.

The delayed_payment.expired event occurs whenever the Delayed Payment for CloudPay method is not received or expires. This event is triggered to indicate that the time frame allocated for the payment completion has lapsed without the necessary funds being provided. Tracking payment failures within the commerce system is critical, allowing for appropriate actions such as customer notifications or order cancellation procedures.