What do the different payment statuses mean?

A payment may have a variety of statuses, here's a list of each and what they mean.

Pending

This is a payment that has begun, but is not complete.  An example of this is someone who has filled out the checkout form and then gone to PayPal for payment.  We have the record of sale, but they haven't completed their payment yet.

Complete

This is a payment that has been paid and the product delivered to the customer.

Refunded

This is a payment where money has been transferred back to the customer and the customer no longer has access to the product.

Failed

This is a payment where the payment process failed, whether it be a credit card rejection or some other error.

Abandoned

If a Pending payment is never completed it becomes Abandoned after a time.

Revoked

Revoked payments restrict access to the product without refunding money.

Preapproved

A preapproved payment is one where the customer has approved the payment, but it hasn't been processed yet.  It'll be processed at a later date.

Cancelled

Cancelled is used in two different scenarios.  One deals with Recurring payments.  When a subscription is cancelled then the original payment gets set to cancelled as well.

Cancelled is also used with preapprovals.  A preapproval may be cancelled before payment is made.

Subscription

This refers to a renewal payment for a subscription that uses recurring billing.