A completely visible Pervasive Transaction Environment where it is possible to link all related transactions of physical objects and trace their mobility through their entire life process, has been elusive. With the emergence of Radio Frequency Identification (RFID) based tags, it is now practicable to automatically collect information pertaining to any object?s place, time, transaction, etc. Based on the pervasive deployment of RFID tags, we propose in this paper a novel ubiquitous architecture followed by a protocol for tracking mobile objects in real-time. Our delay analysis and simulation results indicate that the delay incurred in the database update of current tag location is very low and is in the order of seconds, thus providing a very fine granularity in time for consistent location update requests.