How to transfer or store funds in the web application
If the application is to accept cash deposits in the form in exchange for loans that can be used for services, how money is stored, deposited and withdrawn.
i.e. in the adwords you deposit say $ 10 to your account and then you have specified $ 10 credit. But that $ 10 is purely representative of your money, it's just the value in the database.
What is the actual rear end system handling this? i.e. where is the money actually held, how does the web application control the actual money, in case of withdrawal, etc.?
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Almost all the money in the world is "purely your money, it's just value in the database"! The next piece of money is paper money, which is, in a sense, real in that it is physically, but could become worthless at any time if the government that backs the paper goes up. After that physical things like gold appear, but this is extremely impractical.
So basically what I'm saying is that web applications that handle money just have values in the database! Those that are written properly study and test the code that handles "money" carefully and of course uses database transactions like hoang already said to avoid duplicating money or losing money in the system.
Hope this answer gets you a little less concerned with how money is handled in today's world: P
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From the comments, what do you mean, you are wondering how the web application transacts with the bank (which has "real money", not just database numbers).
What happens is that each web application can communicate via API to a specific banking institution (e.g. local bank, PayPal, etc.). The web app can then use that to order money to be sent and receive notifications from it when money arrives. The exact data may vary depending on the banking institution.
For example, you can find more information on OFX (Open Financial Exchange) here: http://wiki.gnucash.org/wiki/OFX_Direct_Connect_Bank_Settings
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From Stackoverflow bookmarking system
You must have at least 75 reputation to start the bounty, and at least the same reputation as the amount of the bounty.
The reward reward will be deducted from your reputation when the reward starts, not when it is awarded
Replace Money's reputation on the surface trading platform
You must have at least $ 75 to start buying, and at least as many dollars as the asking price.
The request amount will be deducted from your account when the trade starts, not when it makes the trade
Let's add some process around our surface trading platform
- Your account is matched with your VISA credit card and the payment will be automatically processed.
- The moment the deal is closed, the shipment will be sent to your shipping address and you can expect delivery within a week.
This is a simplified view of how money is handled in web applications :). They are still numbers / transactions mapped to some real workflows and rules and integrated with your banks.
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It boils down to a secure token that you can trust, I can issue a check for the amount and send it to you, you go to the bank and get that honor / paid. The check can be "written" (I use this term loosely because it can also be barcode or encrypted code) by any means (Bullet cases have been used and executed) So this is really the promise "I promise to pay the bearer".