Payment statuses are provided as follows:

Awaiting submission
The payment has not yet been processed or submitted to your payment service provider.
Submitted for collection
The payment has been submitted to your payment service provider, but the outcome of this transaction is not yet known. This is used for direct debit payments which will take a few days to clear.
Collected from Customer
The payment has been collected from the customer and has been confirmed.
The payment failed to collect. There are a variety of reasons why this could happen, in this case there should be a reason documented in the “Status description” field.