Credit Card Glossary
Transaction
The definition of transaction in the credit card industry covers the following –
• any agreement between two or more parties that establishes a legal obligation
• the act of carrying out such an obligation.
• all activities that affect a deposit account that are performed at the request of the account holder.
• All events that cause some change in the assets, liabilities or net worth of a business.
• Action between a cardholder and a merchant or a cardholder and a member that results in activity on the cardholder account.