Processing Lifecycle Diagram

Written by

James Davis

Written by James Davis

Senior Technical Writer at United Thinkers

Author of the Paylosophy blog, a veteran writer, and a stock analyst with extensive knowledge and experience in the financial services industry that allows me to cover the latest payment industry news, developments, and insights. Read more

Reviewed by

Katherine Pensatori

Reviewed by Katherine Pensatori

Product Specialist at United Thinkers

Product specialist with more than 10 years of experience in the Payment Processing Industry. I help payment facilitators and PSPs solve their various payment processing issues. Read more

Key stages of transaction processing lifecycle

Transaction processing lifecycle involves several key stages. UniPay platform is involved in most of them. Payments of different types are submitted to the system using various entry modes (chipped card, magnetic swipe, etc.) and devices (payment terminals, mobile devices, etc.). Recurring billing is handled by the special UniBill module within the system.

All other transactions are streamlined to UniCharge module, which also handles merchant funding and provisioning, as well as exchanges information about processed transactions and chargebacks with the processor or acquiring bank.