Transaction lifecycle overview

Paymentology defines a transaction as any business activity that results in a direct effect on the financial status and financial statements of a business. In Lume, transactions are associated with FAST messages, which provide more context about the activity.

Transactions are categorised according to:

the source or trigger
the function of the transaction

Transaction lifecycle guides

Explore the transaction lifecycle guides and how it all works on Lume with the links below:

Transactions

Discover how Lume defines and processes different types of transactions:

Transactions
Transaction processing scenarios
Automated fuel dispenser transactions
Incremental authorization
Refunds and reversals
Transfers
Scheme specific transactions
Card present transactions
Card not present transactions

Authorization, clearing, settlement and reconciliation

Find out how Lume manages and processes scheme transactions, and who the responsible parties are:

Authorization
PIN verification
Declined transactions
Transaction rules
Fees
Limits
Stand-in Processing
Clearing, settlement and reconciliation
Clearing and settlement data
Online vs offline settlements

Chargeback

Learn about chargeback creation and processing on Lume:

Processing of chargeback funds
API vs manual
Chargeback API's process

Transaction lifecycle FAQ's

If you have questions, you may find our FAQ's provide you with answers. You can also try out Ask AI, or ask one of our trusty experts through our Customer Support platform.