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What Is A Transaction Status?

A transaction status is a state that your transaction is currently in. While making a payment, you will progress through different states of a transaction, each with its own meaning. For example, an "accepted" status transaction is one that has not been paid, but one that you've agreed on paying for the next time you top up your account. 
The following is a chart of the states of a transaction. Transactions such as these are limited by volume daily.
Here's a list of Xfers transaction status and their respective meaning.
Status Descriptions
Unclaimed  The current transaction is still unclaimed. This usually happens when an buyer has checkout an item but has yet to login to Xfers to 'claim' the transaction.
Pending Buyer has success login to Xfers and 'claimed' the transaction. But he/she has not accepted the transaction.
Accepted Buyer has accepted the transaction via Xfers.
On Hold Buyer has accepted the transaction and has enough money, but has broken the $1000 limit and has to verify his or her account.
Paid Buyer has sufficient funds in his/her account and the transaction has been processed after he/she has accepted it. This status will automatically changed to 'withheld' in 5 days.
Shipped The merchant has shipped the good. This can be trigger via Xfers console or via APIs call by the merchant.
Withheld This is a system set duration where buyer will be able to raise an transaction dispute/seek refund. This currently default to 10 days and will starts immediately after transaction has been set to 'shipped'.
Completed Transaction has successfully been completed and buyer did not raise a dispute within the 'withheld' period. The funds are now available for withdrawal by the merchant.
Cancelled This transaction has been cancelled. This can be trigger via Xfers console or APIs Call by both buyer and merchant. Note: This can only be done before the transaction reach 'paid' status.
This transaction has expired. This usually happens when a buyer did not 'claim' a transaction or transfer sufficient funds to Xfers after accepting a transaction. The default time period for this is currently 4 hrs.