DocumentationPayments
Payments are one of the core services available through Nova. Depending on your account and regional availability, you can use Nova to receive...
Payments are one of the core services available through Nova. Depending on your account and regional availability, you can use Nova to receive funds, send payments, transfer money between users, and move funds between supported financial institutions.
This section explains how payments work within the platform and what you can expect when sending or receiving money.
Understanding Payments
A payment is any movement of funds into or out of your Nova account.
Payments may occur for many reasons, including:
- Receiving money
- Sending money
- Paying another Nova user
- Funding your wallet
- Withdrawing funds
- Card purchases
- Bank transfers
Each payment is recorded in your transaction history.
Payment Types
Depending on the services available to your account, Nova may support several types of payments.
| Payment Type | Description |
|---|---|
| Incoming Payments | Receive money into your Nova account. |
| Outgoing Payments | Send money from your account to another destination. |
| Peer-to-Peer Transfers | Transfer funds between Nova users. |
| Bank Transfers | Send or receive money through supported banking networks. |
| Card Payments | Spend funds using eligible payment cards. |
The payment options available to you depend on your account configuration and regional availability.
Payment Processing
Most payments follow a similar lifecycle:
- A payment is initiated.
- The payment is validated.
- Funds are processed.
- The payment is completed or declined.
- The transaction is recorded in your account history.
Processing times vary depending on the payment method and the financial institutions involved.
Payment Statuses
During processing, payments may display one of several statuses.
| Status | Description |
|---|---|
| Pending | The payment is being processed. |
| Completed | The payment has been successfully completed. |
| Failed | The payment could not be completed. |
| Cancelled | The payment was cancelled before completion. |
Some payment types may display additional status information.
Before Sending a Payment
Before initiating a payment, ensure that:
- You have sufficient available funds.
- The recipient information is accurate.
- The payment amount has been reviewed.
- Any applicable fees have been considered.
Incorrect payment details may delay processing or prevent a payment from being completed.
Payment Limits
Certain payments may be subject to limits based on:
- Account verification status
- Regional regulations
- Currency
- Payment method
- Account type
Where applicable, payment limits are displayed within the platform before the payment is confirmed.
Frequently Asked Questions
Why is my payment still pending?
Some payments require additional processing or confirmation before they can be completed.
Can I cancel a payment?
Some payments may be cancelled before processing begins. Once a payment has been completed, cancellation may no longer be possible.
Why was my payment declined?
Payments may be declined for a variety of reasons, including insufficient funds, verification requirements, payment limits, or regulatory restrictions.
Where can I view my payments?
All payment activity is available in your Transaction History.
Summary
Payments allow you to move money securely through your Nova account. Whether you’re receiving funds, sending payments, or transferring money between accounts, Nova provides a centralized way to manage your financial activity while keeping you informed through real-time transaction tracking.