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While a hyperlink can be used to send a user anywhere on the internet, a transactional link is specifically designed to direct the user to complete a sale. On a website selling products, this is typically a link to add items to the shopping cart or to checkout.
In affiliate marketing the transactional link would be an affiliate link from an Affiliate network. When a user clicks on the link they are directed to an online merchant. The affiliate link tells the network which affiliate sent the traffic. If a purchase is made, the affiliate receives a commission.
Online payment systems such as PayPal allows users to send money to one another using an E-mail address. The most common use of this method is a Buy Now button as used on marketplace sites such as eBay.