Transaction Lifecycle

Whenever the transaction/payment is received, it goes to pending/in progress status. Once the KYC checks are completed, the transaction went to Submitted status. The status Submitted means that the transaction has been sent for processing and got accepted by the processor. At this point, the funds will be taken from your account.

Afterwards, the transaction is sent from the Processor to the Bank. Whenever a payment is processed successfully via the MiFinity acquirer, the status shown is Processed By Acquirer

However, there are some additional stages in the lifecycle of the transaction which are not within our control such as the customer’s bank rejecting the transaction due to any issue and returning the funds back to our acquirer and they will notify us and return the funds to us. In this case the transaction will be marked as Reversed. We will then reverse the transaction to you and credit the funds back to your MiFinity merchant account.