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Last Updated: May 21, 2026
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![2 - Payment Life Cycle [Part 1: Payment Initiation and Payment Processing]](https://i0.wp.com/ytimg.googleusercontent.com/vi/EcNgTrm5Vig/mqdefault.jpg?resize=56,56 "2 - Payment Life Cycle [Part 1: Payment Initiation and Payment Processing]")
![3 - Payment Life Cycle [Part 2: Clearing and Settlement, Reconciliation and Exception Handling]](https://i0.wp.com/ytimg.googleusercontent.com/vi/NUo7q0jMUp8/mqdefault.jpg?resize=56,56 "3 - Payment Life Cycle [Part 2: Clearing and Settlement, Reconciliation and Exception Handling]")