Settling Value.
Connecting Economies.
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02 / LIFECYCLE

How it works

Every state names what Karvo actually knows.

A payment intent, accepted quote, provider submission, settlement obligation and reconciled outcome are different financial facts. Karvo keeps those facts distinct and connects them through one governed state machine.

Transaction flow / 01

From intent to financial finality.

Only the command that owns a transition may advance it. A provider response, settlement record, ledger posting and reconciliation result each contribute different evidence.

Transaction lifecycle / state control

  1. 01Created
  2. 02Validating
  3. 03Quoting
  4. 04Awaiting confirmation
  5. 05Awaiting approval
  6. 06Authorized
  7. 07Routing
  8. 08Submitting
  9. 09Submitted
  10. 10Processing
  11. 11Settling
  12. 12Settled
  13. 13Reconciling
  14. 14Final

Exceptional states

FailedCancelledReversingReversedRequires reviewUnknown provider state
A timeout enters unknown provider state. It is never treated as permission to submit again.

Control points / 02

A state change must mean something operationally.

01

Intent

Bind institution, environment, source, beneficiary revision, exact source amount and destination currency.

02

Terms

Create an immutable expiring quote with provider rate, customer rate, spread, fees and rounding version.

03

Authority

Apply compliance requirements, institutional policy and maker-checker approval before authorization.

04

Execution plan

Freeze the selected route, provider capabilities, economics and permanent command identities.

Failure safety / 03

A timeout is an unknown outcome—not a failed payment.

Karvo freezes unsafe progression, queries the provider using the same permanent command identity, and resumes only when authoritative evidence establishes what happened.

01Idempotent submitOne permanent Karvo command identity
02Provider timeoutOutcome is unknown—not failed
03UNKNOWN_PROVIDER_STATENo blind retry or automatic failover
04Query & reconcileEstablish execution from authoritative evidence
05Resume safelySubmitted · failed · requires review

Agreement / 04

Final means the required records agree.

Karvo normalizes independent evidence and applies versioned deterministic matching. Exact records link automatically; amount, fee, currency, duplicate, status, finality and missing-record discrepancies become owned cases.

SETTLEMENT≠RECONCILIATION
01

Internal ledger

02

Payment & provider state

03

Bank & settlement evidence

04

Fabric commitment

Records agree

Reconciled state

Exception path

Mismatches remain visible for investigation and resolution.

Work with Karvo

Map your transaction lifecycle

Tell us where your institution sits in the transaction chain and which corridor or capability you are evaluating.

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