Order fails event in Magento 2

There is an event observer in Magento which calls when a payment fails on your Magento 2 website. This Magento order fails observer helps developers when they want to take some action on order fails like sending an email to the customer that your order failed due to so on so reasons.

Below event fires when the order fails in Magento 2


You can insert quote fails Magento 2 event to events.xml file as shown below.
File location: /MyCompany/MyModule/etc/events.xml

<config xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:noNamespaceSchemaLocation="urn:magento:framework:Event/etc/events.xsd">
    <event name="sales_model_service_quote_submit_failure">
        <observer name="dhairvi_quote_fails_after" instance="MyCompany\MyModule\Observer\MyEventName.php"/>