Transaction Identifier
Categories: Tech
A “transaction identifier” is a unique code assigned to a transaction that can be used to track it throughout its lifespan.
Transaction identifiers are like Social Security numbers for financial transactions, and they allow institutions to easily find, monitor, authorize, audit, and adjust specific line items. If we’re talking credit cards, a transaction identifier is attached to every purchase, credit, adjustment, fee, etc. that is applied to our account. If we’re talking investments and trading, a unique identifier is attached to every buy and sell order.
