# Transaction States

* `processing` - an initial state for a Transaction. This state is immediately assigned to a Transaction upon Authorisation capture or refund request from a payment network. At this stage we are running some final internal checks and are waiting for settlement flow to finalise. Upon completion, an entity is transitioned to `processed`
* `processed` - a Transaction has been processed and finalised with all parties. This state **may** be final, however if a reversal has been requested, an entity is transitioned to `reversing`
* `reversing` - a Transaction reversal has been requested from a payment network. At this stage we are reversing fund settlement and refunding customer's account. Upon completion, an entity is transitioned to `reversed`
* `reversed` - a Transaction has been reversed and finalised with all parties. This is a **final** state