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Invalid Payment Method – what causes this failure?

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Sometimes I see session recordings where a customer’s credit card transaction fails and this message “Invalid Payment Method” is displayed. The customer has no idea what to do with this and I also have no idea what this message means.

Can someone let me know what triggers this error?

Example screenshot from customer session: https://share.icloud.com/photos/0wN0_YzzvIbvTS-cMm73oSJrw


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