What is the processing of online transactions?
Online transaction processing is a collective term used to describe the classification of systems that process each step of the transaction in the online environment. This processing, sometimes known as OLTP, usually includes data entry, obtaining information from some type of database or source, and a logical procedure to complete the transaction. While many tend to consider OLTP to process financial transactions in the online environment, this term can also be used on other types of transactions, such as the transfer of electronically signed documents via the transmission of Point-to-Point.
The basic feature of online transaction processing is to allow users to start some type of transaction online by connecting with the appropriate servers and data sources to successfully complete the operation. For example, online money transfer service allows users to identify recipients for payment using the Number account or E -mail address associated with the recipient's account, enter the amount to be paid, plan to pay for immediate or delayedDelivery and then make a transaction. Within the Software Process used by the Services Provider, it verifies the availability of funds from the specified source, approves the transaction, and then transmits according to the sender parameters. Many services of this type return the confirmation number to document transmission and at the same time deduct the amount of transfer from the funding source.
at the receiving end of the transaction brings the process of processing online transactions transmitted funds to the recipient's account. Usually, an account owner is generated and sent to the account owner, which provides him with the receipt of funds. If the transaction cannot be completed for a reason, the original is informed of the status, allowing you to cancel the transaction or instruction of the system to try again.
, along with money transfers between accounts, online transaction processing can also include data transfer between points. For example, electronic copiesUVY, can be sent, approved, electronically signed and then distributed to one or more parties. In the widest sense, online transaction processing takes place at any time when the consumer plays an order with online retailers, registers employees to work using web software for time hours, or even when debit cards are used for shopping at a supermarket. Each scenario launches a transaction that uses the Internet to process and complete the order to the mutual satisfaction of both sides involved in the transaction.