online transaction processing
- The processing of transactions the instant each is received by, or entered into, a computer system. online transaction processing not only maintains all master files constantly current, it also enables entering or retrieving information without delays in either process. Used, for instance in mail order businesses which have multiple locations which accept Internet, telephone, and fax orders. Also spelled on-line transaction processing. Its abbreviation is OLTP. Also called transaction processing, or realtime transaction processing.