What Is Transaction Processing?

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Transaction processing refers to the immediate or runtime completion of a task and a user's or program's request. A series of interconnected processes and actions must function in sync to accomplish an overall business process transaction. For example, if you buy something online, many transactions happen behind the scenes: you log into your account on the retailer's website; you find what you want and add it to your cart; you select "check out"; your credit card information is sent to the retailer for validation; the retailer sends an email confirmation with a link to complete your purchase; etc. These transactions must be completed successfully for the sale to go through. Transaction processing tasks include account opening, loan application, purchasing goods or services, online shopping, booking flights or hotels, transferring funds between two accounts, etc. A transaction may be a one-time event, such as purchasing a ticket. It may also be a series of steps that must complete must complete. The most common types of transactions are Point-of-Sale (POS), Mobile, Telephone, Online/Internet Self-Service/Self-Checkout. Sixty-nine words / 391 characters Transaction processing is a phrase that refers to any real-time business transaction or process performed by a transaction processing system (TPS) or other business information system (BIS). When it comes to transactions, it is impossible to overlook the minor nuances. That is why, in our definition of what it means to be a TPS or BIS, we include everything from authorization to data requests. Transactions can be as easy as making an internet purchase or as complex as purchasing a new automobile and going through the dealership's financing procedure. The dealership will have its own TPS, which will work with your bank's TPS to ensure you have enough money in your account before the loan is approved.

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Related Terms by Financial Technology

Frequency Hopping - Code Division Multiple Access (FH-CDMA)

Frequency hopping is one of the oldest tricks in the book. It's basically how you get away with stealing someone else's lunch money while they're distracted by a game of kickball. Frequency hopping happens when you change the radio frequency of your signal so quickly that it's impossible for anyone to tell where you really are or what you're saying. In other words, it's like changing the channel on a TV set so fast that no one can tell where it is—or even if it's still on! It's a great way to hide from bullies, but it also works well for hiding from law enforcement agencies and other people who might not want you around—like cops or your parents when they're trying to find out where you are after curfew. When it comes to FH-CDMA, there's one thing that's for sure: it's not just for people who like to hop around. As when you're using FH-CDMA, you're hopping around—and your signal is hopping right along with you! That's because the FH-CDMA technique uses a specific algorithm to switch between all available frequencies based on a preplanned or random schedule. The receiver stays tuned to precisely the same center frequency as the transmitter (because they're in sync). FH-CDMA is like a little kid in a big pool. It's small, but it can swim pretty well. DS-CDMA is like an adult in the same collection—it's bigger and slower, but it knows how to float on its back and read a book while still staying dry. FH-CDMA is the best for people who want to use their devices without worrying about getting wet; DS-CDMA is better for those who want to keep their heads above water and see what's going on around them.

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FON Map

Do you want to make your wifi available to the people around your house on a party night? This is just the thing for you. FON is a Wi-Fi sharing program that allows users to "share with strangers" by enabling them to connect their devices to a single wireless network. When you download the FON software, you become part of a global wireless connectivity platform called FON. With FON, users share bits of a single Wi-Fi endpoint connection to enable more flexibility in hooking laptops and devices to wireless networks. If you've been in a foreign country and needed to get online but couldn't find an internet connection, you know how frustrating that can be. FON maps are more than a collection of dots on a map. They're a way to see your world differently. With FON, you can see where available FON spots are located relative to each other and your location. You can zoom in on a given area and find out if there's an open spot nearby, or zoom out and see how many open spots there are in your city. If you are still looking for available FON spots near you? You can request one! FON maps show where available FON spots are located all around the world. These maps typically show subsets of more than 4 million FON spots where those with FON access can use local Wi-Fi signals. To use the maps, log into your account on the FON website and click on "Find a hotspot." You'll see an area map with all available hotspots marked as red dots. You can click on any individual dot for more information about that location. If you're exhausted from being tethered to your home network when you're out and about on business or pleasure, FON might be right for you. It's not only easy to use, but it's also free!

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Flooding

It's time to be inundated with network traffic! Equipped with the most powerful routing engine, Flooding can efficiently deliver packets to other nodes in your network. This advanced flooding algorithm will have you wholly flooded in no time! Flooding is a simple and effective routing form in which a source or node sends packets through every outgoing link. Flooding is similar to broadcasting but can also be compared with multipoint communication. So Flooding uses every path in the network. It finds the shortest route to each destination. However, this means that the traffic received by any given destination depends significantly on network topology and distance from the source because there is no differentiation based on destination addresses. Flooding is also done. When routing data packets, initial network routing data is omitted. A hop count algorithm tracks network topology or visited network routes. It allows containers to access all available network routes, ultimately reaching their destination. However, packet duplication is always potential due to the lack of communication delay and selective flooding techniques. Flooding is a denial of service attack that floods network traffic on a network or host. It can be performed to knock down your network service or by making other users wait very long times for their requests to be serviced. The service is flooded with many incomplete server connection requests, so it cannot process genuine requests simultaneously. A flooding attack fills the server or host memory buffer; it cannot make further connections once complete. Flooding is used to bring down a network service, such as a DOS attack, which overwhelms a victim node or host with requests so that it cannot process legitimate traffic. It may accomplish it by exploiting software bugs, counting how many active flows exist on a network link and using botnets. We all like when the Internet is fast, but sometimes it works differently than we want. Well, that's because someone else on the network is causing problems—maybe they're downloading a big file or have a virus on their computer. It is called Flooding. When one person floods your network connection, it can slow down everyone's Internet access. With Flooding, you can lose this lousy guy from your network with just one click.

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