answersLogoWhite

0

First, the customer authorizes an electronic entry to their account. Second, the company introduces the electronic payment data through its bank. Third, the originating institution receives electronic payment data from the company

User Avatar

Wiki User

14y ago

What else can I help you with?

Related Questions

What are the steps in processing business transactions?

The first step in processing a business transaction is to identify the transaction. Next, classify the transaction, record, and report the transaction.


What are the steps to find information in an automated library?

Tim is mean


What are the basic steps of transaction analysis?

There are four basic steps to the accounting cycle and transaction analysis. They steps are to analyze business events, record the effect of these events, summarize the effects of the events, and to prepare the reports on that subject.


The usual sequence of steps in the recording process is to?

analyze each transaction, enter the transaction in the journal, and transfer the information to the ledger accounts.


What is set of steps completed by a dbms to accomplish a single user task?

transaction


What are the steps to securely process an online payment for a credit card transaction?

To securely process an online payment for a credit card transaction, the steps typically involve encryption of the payment information, verification of the cardholder's identity, authentication of the transaction through a secure payment gateway, and confirmation of the payment by the card issuer.


What are the 7 steps in journalizing?

The 7 steps in journalizing are: identify the transactions, analyze the transactions, decide the accounts impacted, record the transaction in the journal, post the transaction to the ledger, prepare a trial balance, and prepare financial statements.


How many steps are included within an octave?

12


When recording the steps of a job what should be done regarding steps that may not be performed every time the job is accomplished?

the steps should be included


What is initial location where stock transaction takes its first steps The broker acts as an intermediary in purchase?

brokerage house


What is the steps in accounting process?

1 - Collect source document 2 - Analyze the transaction 3 - Journalize transaction 4 - Posting transaction 5 - Prepare unadjusted trial balance 6 - Prepare adjusting entries 7 - Prepare trial balance 8 - Prepare financial statements


What are the Steps required to process a transaction?

To process a transaction, first, the customer initiates the payment by providing their payment information, such as credit card details. Next, the transaction is authorized by the payment processor, which verifies the funds and checks for any fraud alerts. Once approved, the transaction is captured, and the funds are transferred from the customer's account to the merchant's account. Finally, the transaction is settled, reflecting the completed payment in both parties' accounts, and a confirmation is sent to the customer.