Transactions overview

A transaction is the transfer of funds between two or more financial entities, such as accounts and cards. It is a fundamental concept in finance and accounting that provides a chronological record of all financial activity.

Immutable Ledger

The transaction registry is an immutable ledger that is the core of the transaction system. It is a record that, once written, cannot be altered or deleted. Every successful debit and credit is recorded permanently, creating a complete and unchangeable history of financial movements. The ledger's immutability ensures that there is a single, trustworthy source of truth for all transactions. This is crucial for auditing, fraud detection, and maintaining the integrity of the financial system.

Transaction Data

Each transaction recorded in the ledger contains detailed information that identifies exactly what happened. This data acts as a narrative for the fund's movement. Key pieces of information include:

• Source: The account or card from which the funds were debited. This identifies the sender.
• Destination: The account or card to which the funds were credited. This identifies the recipient.
• Amount: The exact value of the funds transferred.
• Timestamp: The precise date and time the transaction occurred.
• Unique Transaction ID: A unique identifier assigned to each transaction for tracking and reference.
• and many more..

A Comprehensive Trail

The collection of all transactions acts as a complete audit trail for an account. By examining the ledger, one can trace every single event that has affected an account's balance from its creation to the present day. This transparent and verifiable trail is essential for:

• Accountability: It shows who initiated a transaction and where the money went, making it easy to identify any unauthorized or fraudulent activity.
• Dispute Resolution: In case of a billing error or dispute, the transaction trail provides all the necessary evidence to investigate and resolve the issue.
• Financial Reporting: It allows account holders and auditors to review spending habits, reconcile statements, and generate accurate financial reports.

Transaction-related API and Webhooks

Related Links

• Funds overview
• Transaction history