Transaction lifecycle management is the practice, and the software, used to track and handle a payment through every stage of its life. For a card payment the stages typically run from authorisation to capture, clearing and settlement, then reconciliation and, where needed, refunds, reversals or chargebacks. Bank transfers follow a similar path from initiation and screening to execution and confirmation. Each stage changes the transaction's status and generates records, and lifecycle management makes sure those statuses stay consistent across the merchant, the processor and the bank, that exceptions are spotted and routed to the right team, and that time limits, such as dispute deadlines, are met. Processors and payment platforms usually expose lifecycle events through dashboards and notifications so that merchants' own systems can react. The term overlaps with card lifecycle management, which tracks the card itself rather than each payment. Also see payment reconciliation.