C1noun2K

Transaction

UK /["/trænˈzækʃn/"]/US /["/trænˈzækʃn/"]/

Definition

a piece of business that is done between people, especially an act of buying or selling

In simple words: An exchange of goods or services, usually involving money.

Examples

financial transactions between companies
commercial transactions
Electronic banking may make over-the-counter transactions obsolete.
The president had entered into fraudulent property transactions.
The system records all transactions between the company and its suppliers.
Transactions in land are frequently handled by an estate agent.
Using the internet can significantly reduce transaction costs.
foreign currency transactions
transactions over the internet
the transaction of government business

Usage notes

Commonly used in business contexts to refer to buying or selling. Less appropriate in informal conversations about personal matters.

Grammar pattern

transaction + object

Memory hint

Think of 'trans-action' as a transfer of action between buyer and seller.

Collocations

cross-border
international
private
carry out
conduct
do
proceed
take place
charges
cost
transaction between
transaction over

Synonyms

deal

Antonyms

rejection
cancellation
void

Common mistakes

Confused with 'interaction' — these are different concepts.
Using it in non-business contexts, where 'exchange' might be clearer.
Mispronouncing it as 'tran-zack-tion' instead of 'tran-saction'.