A typical transaction goes through an event lifecycle, which reflects the status of the transaction. Below are examples of transaction lifecycles:

Example 1 - Typical authorization and capture

Stage	Transaction	Description	Day (T)
1	authorization	Issuer authorised transaction payment amount	T0
2	Presentment	Acquirer captures the full authorised amount	T+1

Example 2 - Typical authorization and refund

Stage	Transaction	Description	Day (T)
1	authorization	Issuer authorised transaction payment amount	T0
2	Presentment	Acquirer captures the full authorised amount	T+1
3	authorization	Issuer authorised transaction refund payment amount	Tn