Transaction processing system example thesis
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The ‘Payment Processors’ consider themselves as Payment Gateways as they act as a means to process and complete the secure payment transaction. The merchants usually refer to the Payment Gateways as payment processors as these process all the payments. There is a lot of literature available online about it and whether payment gateway and payment processor are distinct modules with distinct functionalities.ĭuring the course of my projects, I have observed that Payment Processor and Payment gateways are used interchangeably without any actual distinction. The processor uses this information to initiate funds transfer between the customer’s card account and the merchant bank account.Īlso read => Banking Application Testing Difference between payment gateway and payment processors Once this is completed, funds are hold and the balance is deducted from the customer’s credit limit but is not yet transferred to the merchant account.ħ) Capture – In this action, the merchant collects the relevant customer payment information and sends a settlement/capture request to the processor. This authorization is provided by the customer’s issuing bank and confirms the card holder’s validity, the ability to pay, and the presence of sufficient funds etc. Whenever a customer uses a credit or debit card to make a purchase, the Issuing bank either approves or declines the transaction based on the cardholder account standing and passes that information to the Acquiring Bank.įor example, the transaction will be rejected if the card’s expiry date is incorrect, or if the purchase amount is more than the card credit limit, etc.ĥ) Transaction – The end to end process through which the merchant receives funds for a transaction with a customer.Ħ) Authorization – Authorization is requested when a customer makes a purchase.
Transaction processing system example thesis verification#
It has a 16 digit card number, an expiration date, hologram, magnetic strip, signature panel and a Card verification value (CVV) number.ģ) Acquiring bank – Acquiring Bank is a financial institution that maintains the merchant’s bank account and enables a merchant to accept and process debit and/or credit card transactions on their store.Ĥ) Issuing Bank – Issuing Bank is the financial institution that issues the customer’s debit or credit card. Flipkart, Amazon, eBay are some examples of Merchants.Ģ) Credit Card – A plastic card that can be used to buy products or services through a credit account.
Let us discuss some terms that we will be using in this article:ġ) Merchant – A merchant is a person or company that sells products or services.
Transaction processing system example thesis free#
While this type of integrity must be provided also for batch transaction processing, it is particularly important for online processing as of an airline seat reservation system is accessed by multiple operators, after an empty seat inquiry, the seat reservation data must be locked until the reservation is made, otherwise another user may get the impression a seat is still free while it is actually being booked at the time. In case of a failure preventing transaction completion, the partially executed transaction must be rolled back by the TPS. If an electronic payment is made, the amount must be either both withdrawn from one account and added to the other, or none at all. A Transaction Processing System or Transaction Processing Monitor is a set of information which process the data transaction in database system that monitors transaction programs.The essence of a transaction program is that it manages data that must be left in a consistent state.