transaction

/trænˈzækʃən/ noun

Definition

› [C] COMMERCE an occasion when someone buys or sells something: Users can now make financial transactions in euros. Customers worry about the security of online transactions. The settlement period of securities transactions in foreign markets may be longer than in domestic markets.conduct/make a transaction Credit-card holders made seven transactions on average during the last month.

› [U] formal COMMERCE the process of doing business: The Government is determined to make the UK the best place for the transaction of e-business.

› [C] IT a single action such as adding a sale or a new customer, which changes data in a computer database (= computer system containing a large amount of information): The .LDF file tracks all the transactions made since the last backup.

→ See also related party transaction

(Definition of transaction noun from the Cambridge Business English Dictionary © Cambridge University Press)