Glossary

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Term	Definition
Transaction ID	A transaction ID is a unique string of numbers and letters attached to a particular transaction. Every transaction ID is unique. A bank can use the transaction ID to request further information about a specific purchase from a merchant, and the merchant can then use the ID to pull up the details of that purchase in their system. Transaction IDs also streamline the process of issuing a refund for a purchase.

Term

Definition

Transaction ID

A transaction ID is a unique string of numbers and letters attached to a particular transaction. Every transaction ID is unique. A bank can use the transaction ID to request further information about a specific purchase from a merchant, and the merchant can then use the ID to pull up the details of that purchase in their system. Transaction IDs also streamline the process of issuing a refund for a purchase.