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Transaction Process system in case of credit/debit cards

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Presentation1

  1. 1. APPLICATION OF TRANSACTION PROCESSING SYSTEM Dhwani Ojha
  2. 2. 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.
  3. 3. ORDER FULFILLMENT PROCESS Submit order Check credit Generate Invoice Approve credit Assemble Product Ship Product Generate OrderSales Accounting Manufacturing & Production
  4. 4. PARTIES INVOLVED Card Holder The holder of the card used to make a purchase; the consumer. Card Issuing Bank The financial institution or other organization that issued the credit card to the cardholder. Merchant Acquiring Bank The financial institution accepting payment for the products or services on behalf of the merchant. The individual or business accepting credit card payments for products or services sold to the cardholder.
  5. 5. Merchant Account This could refer to the acquiring bank or the independent sales organization, but in general is the organization that the merchant deals with. Credit card Association An association of card-issuing banks such as Discover, Visa, MasterCard etc. that set transaction terms for merchants, card-issuing banks, and acquiring banks. Transaction Network The system that implements the mechanics of the electronic transactions. PARTIES INVOLVED Contd
  6. 6. TRANSACTION PROCESS Authorization Clearing & Settlement FundingBatching CHARGEBACK

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