Understanding the workflow of fiat payins

Payments go through a series of statuses throughout the workflow.

StatusDescription
initiatedA order has been created on TransFi end, and waiting for the user to complete the payment.
fund_processingUser has submitted the payment details, and waiting for the partner to confirm the payment receipt.
fund_settledPayment has been successfully received to TransFi.
fund_failedPayment is not received by TransFi or reverted back to end user due to incorrect information while paying in or compliance checks.