Abstract
The present disclosure discloses a method and a system for performing transactions using unified transaction identifier (ID). In the present disclosure, the method includes generating a unified ID using credentials of a user during registration process. Herein, the unified ID is linked with one or more accounts of the user, one or more debit cards, credit cards, and the like, of the user. Post registering, the user such as, a sender having a unified ID can initiate a transaction with a recipient having a unified ID. Herein, while initiating the transaction from the sender to the recipient, the sender provides unified ID of the recipient. Upon entering the unified ID of the recipient, the unified ID system determines a risk rate and a payment limit associated with the initiated transaction. Then, the determined risk rate associated with the transaction is notified to the sender to complete or terminate the transaction.
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.
Recommended Citation
SURANA, NEERAJ; JAIN, HARDIK; SHETTY, PRAJNA; and BANERJEE, PRETHWISH, "SYSTEM AND METHOD FOR PERFORMING TRANSACTIONS USING UNIFIED TRANSACTION IDENTIFIER (ID)", Technical Disclosure Commons, (January 04, 2024)
https://www.tdcommons.org/dpubs_series/6575