Transaction ID
Transaction ID (or transaction identification number) is a unique alphanumeric code assigned to each payment transaction during the electronic funds transfer process. This identifier enables merchants, payment processors, and banks to track, locate, and reference specific transactions for recordkeeping, refunds, and dispute resolution.
Transaction IDs appear on receipts, invoices, and payment confirmations, typically alongside the merchant name, date, amount, and order number.
Common formats
- 12-20 digit alphanumeric codes
- Generated by payment processors, gateways, or acquiring banks
- Unique to each transaction attempt (including declined transactions)
Practical uses:
- Refund processing - Quickly locate transactions to issue refunds
- Dispute resolution - Reference specific transactions during chargeback investigations
- Reconciliation - Match payments to bank deposits and accounting records
- Customer support - Track and verify transaction details when customers have questions
A single purchase may have multiple IDs in different systems (gateway transaction ID, processor reference number, bank authorization code), so it's important to specify which ID is referenced when communicating with payment partners.