diff --git a/db/migrate/20241220095049_backfill_payable_payment_status.rb b/db/migrate/20241220095049_backfill_payable_payment_status.rb
new file mode 100644
index 000000000000..d52ea35f812a
--- /dev/null
+++ b/db/migrate/20241220095049_backfill_payable_payment_status.rb
@@ -0,0 +1,22 @@
+# frozen_string_literal: true
+
+class BackfillPayablePaymentStatus < ActiveRecord::Migration[7.1]
+  def change
+    provider_types = PaymentProviders::BaseProvider.distinct.pluck(:type)
+    provider_types.each do |provider_type|
+      provider_class = provider_type.constantize
+
+      payments = Payment.joins(:payment_provider)
+        .where(payment_providers: {type: provider_type}, status: provider_class::PENDING_STATUSES)
+      payments.update_all(payable_payment_status: :pending)
+
+      payments = Payment.joins(:payment_provider)
+        .where(payment_providers: {type: provider_type}, status: provider_class::SUCCESS_STATUSES)
+      payments.update_all(payable_payment_status: :succeeded)
+
+      payments = Payment.joins(:payment_provider)
+        .where(payment_providers: {type: provider_type}, status: provider_class::FAILED_STATUSES)
+      payments.update_all(payable_payment_status: :failed)
+    end
+  end
+end