Confirmation transactions

Confirmation transactions,

Definition of Confirmation transactions:

  1. Automated confirmations issued by computer upon completion of certain tasks. These are programmed to occur after a required minimum amount of information has been entered and specific tasks have been completed. One example includes confirmation of an automated or remote payment; the computer is loaded with the account details and once payment has been received and funds verified a confirmation transaction is automatically completed.

Meaning of Confirmation transactions & Confirmation transactions Definition