Below is the information regarding the Status (refer : reports->Earning reports):
Pending: Transactions are to be analyzed / confirmed by the merchant.
Validated: Transactions are confirmed by the merchant.
Rejected: Transactions are rejected by the merchant.
Payable: Amount is paid to us by Merchant and you can raise invoice for the same.
Claimed: You have claimed / paid the mentioned amount from us.
Please note Merchant usually takes minimum 60 days to Validate the transactions and then mark them as Validated / Rejected based on the confirmation reports shared by the merchant. Once the transactions are marked as Validated, merchant pays us, post which the status becomes "Payable" and then you can raise invoice to us.