What is transaction processing system ?

A transaction processing system (TPS) is a type of information system that processes and records transactions such as sales, purchases, deposits, withdrawals, and other financial activities. It is designed to collect, store, retrieve, and modify data related to transactions in real-time. TPS is essential for businesses to efficiently manage their day-to-day operations and ensure accurate and timely processing of transactions. It typically involves the use of databases, software applications, and hardware infrastructure to support transaction processing activities.