Finally I got the message on electrum "The Transaction is only available on your local machine" and I did not get the coin back. I right clicked the transaction from Electrum and did "Broadcast" and the transaction now has 2 confirmations.
Will this go through ?
Usually, the payment processor sites have set a timer to send the transaction within a certain time period like 30 minutes or 1 hour etc. I do not know what happens if the timer runs out and your transaction isn't broadcast as i usually pay a higher fee (after checking from the mempool), so that my transactions get confirmed early and the payment processor site has no objection as my payments never delays.
If the transaction has already been broadcast within the allocated time but not yet confirmed, then it was not an issue but since the payment processer did get the Tx ID within the allocated time I do not know how they will treat it, Maybe good payment processor will return you the amount if you contact them through support and the less trusted ones may eat up your funds.