Glossary

Transaction/Transfer

Is any financial transaction which can be executed either when funds are transferred by one person to another or it can be a process where Merchant receives funds for goods or services supplied to Customer.

How does Transaction/Transfer work?

In the scope of financial transaction which involves persons sending funds by the means of transferring them through financial system from one account to another. The Transfer starts when Originator initiates the Transfer, it is finalised when the Beneficiary receives the funds on his/her account.

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