Authorisation
The request supports card and funds checks. Approval at this stage should not be confused with completion of all later settlement steps.
FinFly Explains / Economy
Card processing has distinct stages
Card processing involves requests, transaction information and settlement between participants.
Clearing and settlement
Clearing exchanges financial transaction details. Settlement facilitates movement of funds between issuers and acquirers.
Reading a status
FinFly recommends asking which stage a pending transaction has reached. Do not treat every temporary reservation as a final debit or a confirmed refund.
Method
Primary sources
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