A SYSTEM FOR AUTHORIZING ELECTRONIC TRANSACTIONS AND A METHOD THEREOF

摘要

A system (100) and a method for authorizing electronic transactions have been disclosed. The system (100) includes a data storage and processing unit (102) and at least one computing device (104). The computing device (104) which is associated with at least one user facilitates in authentication of users involved in transactions for generation of notifications for the data storage and processing unit (102). The notification comprises information including specific or range bound values, names of parties involved in the transaction and the time limit for expiration of the notification. This notification is used by the data storage and processing unit (102) to allow a transaction if the transaction is within the bounds of the notification.