By the method of execution, banking transactions are divided into online and offline. The former are widespread not only in Russia, but also throughout the world. Banks are trying to move away from manual processing of transactions. In particular, to minimize costs and improve security.
How do different types of banking transactions differ from each other:
Conducted online - take place in real time. Often using a card or a bank mobile application. A common example is a purchase in a store. When paying with a card, the client holds the "plastic" to the terminal, the request is immediately sent to the bank and the money is usually written off instantly.
Conducted offline - require the participation of a teller. In this case, a complex system of writing off or crediting funds is used.
Offline transactions are carried out by Russian banks northeast mobile number database extremely rarely. Even if a client comes to the office of a credit institution and asks, for example, to issue cash from an account, the tellers still initiate an online transaction using their own technical means. The choice in their favor is explained by the speed, reliability and cheapness of the transaction.
How banks conduct transactions
Much depends on what kind of transaction we are talking about. As an example, consider a transaction that a bank carries out when a customer makes a purchase from a debit card account. Then the process looks like this:
The cardholder holds the card to the reader – usually a terminal capable of receiving information from the “plastic”. In many cases, the bank’s client can also use a smartphone with an NFC chip, although this is currently more relevant for Russian owners of Android phones.
The terminal reads the information and transmits it to the acquiring bank.
The latter sends this information to the payment system, where the provided data undergoes additional verification.
From there, the information goes to the bank that issued the debit card. It checks the legality of the transaction once again. If nothing suspicious is found, the transaction is approved and the money is transferred to the payment system.
The latter transfers them to the acquiring bank, which services the payment terminal located at the point of sale.
Due to the extensive structure of actions, a banking transaction may seem like a complex process. However, in reality, everything is much simpler. Most operations and checks are carried out automatically according to pre-set criteria. Therefore, they usually take only a few seconds.