diff --git a/bindings/ldk_node.udl b/bindings/ldk_node.udl
index c2f0166c8..4ab85d562 100644
--- a/bindings/ldk_node.udl
+++ b/bindings/ldk_node.udl
@@ -419,10 +419,11 @@ enum PaymentDirection {
 	"Outbound",
 };
 
-enum PaymentStatus {
-	"Pending",
-	"Succeeded",
-	"Failed",
+[Enum]
+interface PaymentStatus {
+	Pending();
+	Succeeded();
+	Failed(PaymentFailureReason? reason);
 };
 
 dictionary LSPFeeLimits {
diff --git a/src/event.rs b/src/event.rs
index 22848bec1..94c76a4e8 100644
--- a/src/event.rs
+++ b/src/event.rs
@@ -582,7 +582,7 @@ where
 						self.channel_manager.fail_htlc_backwards(&payment_hash);
 
 						let update = PaymentDetailsUpdate {
-							status: Some(PaymentStatus::Failed),
+							status: Some(PaymentStatus::Failed { reason: None }),
 							..PaymentDetailsUpdate::new(payment_id)
 						};
 						match self.payment_store.update(&update) {
@@ -606,7 +606,7 @@ where
 						self.channel_manager.fail_htlc_backwards(&payment_hash);
 
 						let update = PaymentDetailsUpdate {
-							status: Some(PaymentStatus::Failed),
+							status: Some(PaymentStatus::Failed { reason: None }),
 							..PaymentDetailsUpdate::new(payment_id)
 						};
 						match self.payment_store.update(&update) {
@@ -647,7 +647,7 @@ where
 
 						let update = PaymentDetailsUpdate {
 							hash: Some(Some(payment_hash)),
-							status: Some(PaymentStatus::Failed),
+							status: Some(PaymentStatus::Failed { reason: None }),
 							..PaymentDetailsUpdate::new(payment_id)
 						};
 						match self.payment_store.update(&update) {
@@ -834,7 +834,7 @@ where
 
 					let update = PaymentDetailsUpdate {
 						hash: Some(Some(payment_hash)),
-						status: Some(PaymentStatus::Failed),
+						status: Some(PaymentStatus::Failed { reason: None }),
 						..PaymentDetailsUpdate::new(payment_id)
 					};
 					match self.payment_store.update(&update) {
@@ -1014,7 +1014,7 @@ where
 
 				let update = PaymentDetailsUpdate {
 					hash: Some(payment_hash),
-					status: Some(PaymentStatus::Failed),
+					status: Some(PaymentStatus::Failed { reason }),
 					..PaymentDetailsUpdate::new(payment_id)
 				};
 				match self.payment_store.update(&update) {
diff --git a/src/payment/bolt11.rs b/src/payment/bolt11.rs
index 052571818..22b213f16 100644
--- a/src/payment/bolt11.rs
+++ b/src/payment/bolt11.rs
@@ -210,7 +210,7 @@ impl Bolt11Payment {
 							invoice.amount_milli_satoshis(),
 							None,
 							PaymentDirection::Outbound,
-							PaymentStatus::Failed,
+							PaymentStatus::Failed { reason: None },
 						);
 
 						self.payment_store.insert(payment)?;
@@ -346,7 +346,7 @@ impl Bolt11Payment {
 							Some(amount_msat),
 							None,
 							PaymentDirection::Outbound,
-							PaymentStatus::Failed,
+							PaymentStatus::Failed { reason: None },
 						);
 						self.payment_store.insert(payment)?;
 
@@ -430,7 +430,7 @@ impl Bolt11Payment {
 		let payment_id = PaymentId(payment_hash.0);
 
 		let update = PaymentDetailsUpdate {
-			status: Some(PaymentStatus::Failed),
+			status: Some(PaymentStatus::Failed { reason: None }),
 			..PaymentDetailsUpdate::new(payment_id)
 		};
 
diff --git a/src/payment/bolt12.rs b/src/payment/bolt12.rs
index 8006f4bb9..841eb9349 100644
--- a/src/payment/bolt12.rs
+++ b/src/payment/bolt12.rs
@@ -138,7 +138,7 @@ impl Bolt12Payment {
 							Some(offer_amount_msat),
 							None,
 							PaymentDirection::Outbound,
-							PaymentStatus::Failed,
+							PaymentStatus::Failed { reason: None },
 						);
 						self.payment_store.insert(payment)?;
 						Err(Error::InvoiceRequestCreationFailed)
@@ -244,7 +244,7 @@ impl Bolt12Payment {
 							Some(amount_msat),
 							None,
 							PaymentDirection::Outbound,
-							PaymentStatus::Failed,
+							PaymentStatus::Failed { reason: None },
 						);
 						self.payment_store.insert(payment)?;
 						Err(Error::PaymentSendingFailed)
diff --git a/src/payment/spontaneous.rs b/src/payment/spontaneous.rs
index 1508b6cd8..9057f789e 100644
--- a/src/payment/spontaneous.rs
+++ b/src/payment/spontaneous.rs
@@ -162,7 +162,7 @@ impl SpontaneousPayment {
 							Some(amount_msat),
 							None,
 							PaymentDirection::Outbound,
-							PaymentStatus::Failed,
+							PaymentStatus::Failed { reason: None },
 						);
 
 						self.payment_store.insert(payment)?;
diff --git a/src/payment/store.rs b/src/payment/store.rs
index 75b2b1b2a..78154de02 100644
--- a/src/payment/store.rs
+++ b/src/payment/store.rs
@@ -5,6 +5,7 @@
 // http://opensource.org/licenses/MIT>, at your option. You may not use this file except in
 // accordance with one or both of these licenses.
 
+use lightning::events::PaymentFailureReason;
 use lightning::ln::channelmanager::PaymentId;
 use lightning::ln::msgs::DecodeError;
 use lightning::offers::offer::OfferId;
@@ -280,8 +281,8 @@ impl StorableObject for PaymentDetails {
 			}
 		}
 
-		if let Some(status) = update.status {
-			update_if_necessary!(self.status, status);
+		if let Some(status) = &update.status {
+			update_if_necessary!(self.status, status.clone());
 		}
 
 		if let Some(confirmation_status) = update.confirmation_status {
@@ -323,20 +324,25 @@ impl_writeable_tlv_based_enum!(PaymentDirection,
 );
 
 /// Represents the current status of a payment.
-#[derive(Copy, Clone, Debug, PartialEq, Eq)]
+#[derive(Clone, Debug, PartialEq, Eq)]
 pub enum PaymentStatus {
 	/// The payment is still pending.
 	Pending,
 	/// The payment succeeded.
 	Succeeded,
 	/// The payment failed.
-	Failed,
+	Failed {
+		/// The reason why the payment failed.
+		reason: Option<PaymentFailureReason>,
+	},
 }
 
 impl_writeable_tlv_based_enum!(PaymentStatus,
 	(0, Pending) => {},
 	(2, Succeeded) => {},
-	(4, Failed) => {}
+	(4, Failed) => {
+		(0, reason, upgradable_option),
+	}
 );
 
 /// Represents the kind of a payment.
@@ -593,7 +599,7 @@ impl From<&PaymentDetails> for PaymentDetailsUpdate {
 			fee_paid_msat: Some(value.fee_paid_msat),
 			counterparty_skimmed_fee_msat,
 			direction: Some(value.direction),
-			status: Some(value.status),
+			status: Some(value.status.clone()),
 			confirmation_status,
 		}
 	}
diff --git a/tests/common/mod.rs b/tests/common/mod.rs
index 3258df791..d67c959c6 100644
--- a/tests/common/mod.rs
+++ b/tests/common/mod.rs
@@ -826,7 +826,10 @@ pub(crate) fn do_channel_full_cycle<E: ElectrumApi>(
 	);
 	node_b.bolt11_payment().fail_for_hash(manual_fail_payment_hash).unwrap();
 	expect_event!(node_a, PaymentFailed);
-	assert_eq!(node_a.payment(&manual_fail_payment_id).unwrap().status, PaymentStatus::Failed);
+	assert_eq!(
+		node_a.payment(&manual_fail_payment_id).unwrap().status,
+		PaymentStatus::Failed { reason: None }
+	);
 	assert_eq!(
 		node_a.payment(&manual_fail_payment_id).unwrap().direction,
 		PaymentDirection::Outbound
@@ -839,7 +842,10 @@ pub(crate) fn do_channel_full_cycle<E: ElectrumApi>(
 		node_a.payment(&manual_fail_payment_id).unwrap().kind,
 		PaymentKind::Bolt11 { .. }
 	));
-	assert_eq!(node_b.payment(&manual_fail_payment_id).unwrap().status, PaymentStatus::Failed);
+	assert_eq!(
+		node_b.payment(&manual_fail_payment_id).unwrap().status,
+		PaymentStatus::Failed { reason: None }
+	);
 	assert_eq!(
 		node_b.payment(&manual_fail_payment_id).unwrap().direction,
 		PaymentDirection::Inbound