More information on the Payment transaction entity forthcoming.
See commerce_payment.module for now.
From commerce_payment.module 7.x-1.2:
// Local payment transaction status definitions:
// Pending is used when a transaction has been initialized but is still awaiting // resolution; e.g. a CC authorization awaiting capture or an e-check payment // pending at the payment provider. define('COMMERCE_PAYMENT_STATUS_PENDING', 'pending');
// Success is used when a transaction has completed resulting in money being
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