Card Transaction Data

Card Transaction Data

Card Transaction Data is financial data generally found through the transfer of funds between a card holder's account and a business's account. It comprises of the use of either a debit card or a credit card to generate data on the transfer for the purchase of goods or services. Transaction data describes an action which is comprised of events in which master data participates in. Master data is the people, places or things an organization cares about and is consistent. Transaction focuses on the price, discount and method of payment interaction between the customer and the organization. They are based on volatility as each transaction data changes every time a purchase is made, one time it could be $10, the next $55. Since debit and credit cards are commonly used to pay for goods and services, they represent a strong percentage of the consumption expenditure in the country.

Overview

When a transaction is made, the card holder is offered a paper pr electronic transaction record containing information about the purchase. This includes: transaction amount, transaction number, transaction date and time, transaction type (deposits, withdrawal, purchase or refund), type of account been debited or credited, card number, identity of the card acceptor (organization/store address) as well as the identity of the terminal (company name from which the machine operates).

Credit Cards

Terminal processes of credit card transactions:

• Purchase
• Purchase-void
• Refund
• Refund-void
• Pre-authorization
• Private label payment
• Private label payment-void
• Note: Terminal process pre-paid credit cards the same as standard credit cards

Type of credit cards:

• Standard (MasterCard, Visa, Discover, AMEX)
• Pre-paid (MasterCard, Visa, Discover, AMEX)
• Corporate (purchasing) cards (as long as it is a processable standard card, i.e. standard Visa means corporate Visa cards are processable)
• Private label cards (depending on the terms of agreement between the company's financial terminal data generator

Debit Cards

Terminal processes of debit card transactions:

• Purchase
• Purchase-void
• Refund
• Refund-Void
• Some debit chips may also allow:
  • Pre-Authorization
  • Pricate label payment
  • Private label payment-void
• Note: debit card-holder must input their own PIN to complete transaction

Point of sale terminals will give access to information

Interact Debit transactions has increased rapidly in the last 6 years according to Interact Debit statistics. Canada however, has a lower use of debit use debit transaction by inhabitant compared to the United States, Sweden, Netherlands, Australia, and Great Britain.