WHAT IS TPS?
A transaction process system (TPS) is
an information processing system for
business transactions involving the
collection, modification and retrieval
of all transaction data. Characteristics
of a TPS include performance,
reliability and consistency.
ORDER FULFILLMENT PROCESS
The holder of the card used to make a
purchase; the consumer.
The financial institution or other organization
that issued the credit card to the cardholder.
The financial institution accepting payment for
the products or services on behalf of the
The individual or business accepting credit
card payments for products or services sold to
This could refer to the acquiring bank or the
independent sales organization, but in general
is the organization that the merchant deals
An association of card-issuing banks such as
Discover, Visa, MasterCard etc. that set
transaction terms for merchants, card-issuing
banks, and acquiring banks.
The system that implements the mechanics of
the electronic transactions.
PARTIES INVOLVED Contd