  PAUCam is an innovative optical narrow-band imager mounted at the William
Herschel Telescope built for the Physics of the Accelerating Universe Survey
(PAUS). Its set of 40 filters results in images that are complex to calibrate,
with specific instrumental signatures that cannot be processed with traditional
data reduction techniques. In this paper we present two pipelines developed by
the PAUS data management team with the objective of producing science-ready
catalogues from the uncalibrated raw images. The Nightly pipeline takes care of
all image processing, with bespoke algorithms for photometric calibration and
scatter-light correction. The Multi-Epoch and Multi-Band Analysis (MEMBA)
pipeline performs forced photometry over a reference catalogue to optimize the
photometric redshift performance. We verify against spectroscopic observations
that the current approach delivers an inter-band photometric calibration of
0.8% across the 40 narrow-band set. The large volume of data produced every
night and the rapid survey strategy feedback constraints require operating both
pipelines in the Port d'Informaci\'o Cientifica data centre with intense
parallelization. While alternative algorithms for further improvements in
photo-z performance are under investigation, the image calibration and
photometry presented in this work already enable state-of-the-art photometric
redshifts down to iAB=23.0.
