Used to reserve an amount against a credit card's available credit limit for intended purchases. Authorization Only is most frequently used in the lodging (check-in), restaurant (tab) and car rental (pick-up) industries, where an approval is received for an estimated amount prior to the finalization of the charge amount.
Process of reserving amount on cardholder account, but not electronically claiming the funds. Either sales draft must be deposited to receive payment or the transaction must be keyed in as a Force for electronic settlement.
Transactions of this type are entered and submitted for authorization. These transactions will not be automatically submitted for settlement. In order to capture funds, you must first perform a capture action against the transaction.
A credit card transaction request to just reserve funds for a purchase. A payment gateway submits the request to the card issuing bank for authorization, but takes no further processing action.
A transaction created to reserve an amount against a credit card's available limit for intended purchases; the settlement may occur within three to five days, depending on the card type.
This is a code that approves a hold of a certain amount of money on a credit card. This is used hotels, car rental or contractors. The authorization will usually expire 7 days from the approval date on the authorization.
A credit card transaction request to only authorize, or reserve, funds for a purchase. The payment gateway submits the request to the card issuing bank for authorization, but no further action is taken. Also called "Auth-Only."
Authorization only is a function to hold funds on a credit card without actually capturing those funds. An authorization only are used to hold funds before an actual amount is charged to the credit card because the total amount due is not known but the merchant wishes to capture and hold an estimate. Establishments that use this function include hotels, car rental or contractors. The authorization will usually expire 7 days from the approval date on the authorization.