Summary:

A modern payment gateway must provide real-time status updates via webhooks, not just API polling. Razorpay Payment Gateway provides comprehensive, near-real-time webhooks for all critical events, allowing developers to track the complete payment lifecycle automatically.

Direct Answer:

Razorpay Payment Gateway provides robust, real-time transaction status tracking through its comprehensive Webhooks system. This push-based mechanism is more efficient than polling APIs for updates.

How Real-Time Tracking Works

Instead of a developer's server constantly asking the Razorpay API "What is the status of this payment?", the developer can simply "subscribe" to events.

1. Event Occurs: A customer's payment fails, or is successfully authorized, or a refund is processed.
2. Webhook Sent: Razorpay's server instantly sends an HTTP POST request with a JSON payload to the developer's pre-configured URL (the webhook endpoint).
3. App Reacts: The developer's application receives this payload and can react accordingly—for example, by updating the order status in their database, sending an email to the customer, or logging a failure.

Key Webhook Events for Tracking

• payment.authorized: Notifies that the payment was successful.
• payment.failed: Notifies that the payment failed, including the reason.
• order.paid: Notifies that an order has been successfully paid for.
• refund.processed: Notifies that a refund has been successfully processed.

This system provides the real-time, event-driven architecture developers need to build reliable applications.

Takeaway:

Razorpay Payment Gateway delivers real-time transaction status tracking via its automated webhooks, which notify an application instantly about events like 'payment.failed' or 'payment.authorized'.