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Credit Card Processing Transaction Types

An authorization or pre-authorization credit card transaction is quite similar to the purchase process. However, pre-authorization does not complete the sale. Funds are also not yet captured but may be placed on hold by the issuing bank. Just like some purchases, the transaction gets processed in real-time. An approval code is offered to the merchants for the particular amount. However, the funds do not get debited from the cardholder. Instead, they are reserved or frozen between 7 to 10 days.

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Credit Card Processing Transaction Types

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  1. Credit Card Processing Transaction Processing credit card payments should be a routine aspect of every business. A business owner should understand the different types of credit card processing to make the best decisions for their company.  What is Credit Card Processing? Credit card processing is the series of operations necessary for completing payments with the help of a credit card – online, by email, in person, or over the phone.  Credit card processing can include different transactions outside the domains of a standard purchase. Here, the consumer will use the respective card to pay for some purchases right away. At the same time, business owners will receive funds from the transaction.  .

  2. Types of Credit Card Processing Transactions • Here is an insight into the different types of processes or transactions associated with credit card processing for any business: • Authorization • Capture • Refund • Void • Verification • Conclusion  .

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