Financial Transaction Processing

Financial transaction processing involves the steps that occur when money is transferred, spent, or received. It includes verifying the details, checking account balances, updating records, and ensuring the funds move correctly from payer to recipient. This process happens quickly and securely through systems like banks, credit card networks, or online platforms. It guarantees that each transaction is accurate, authorized, and recorded properly, providing financial accountability and trust. Essentially, it's the behind-the-scenes work that makes everyday payments, transfers, and purchases happen smoothly and securely.