Definition, Meaning & Synonyms
payment-transaction
noun
/ˈpeɪmənt trænˈzækʃən/
Definition
A payment transaction is an exchange of money or value for goods or services, typically involving a transfer from a buyer to a seller.
Examples
- The payment transaction was successful, and the order was confirmed.
- She received a notification that her payment transaction had been processed.
- Ensuring security during a payment transaction is critical for online shopping.
Meaning
It specifically refers to the act of making a payment and the processing that occurs to complete that payment through a financial system.
Synonyms
- financial transaction
- money transfer
- payment process
- expenditure
