Using the payment software incorporated in the Web server, the merchant sends the encrypted transaction to the acquiring processor for authorization. The authorization is a request to hold funds for purchase. The acquiring processor either authorizes a certain amount of money or declines the transaction. An authorization reduces the available credit limit but does not actually put a charge on the customer's bill or move money to the merchant. If the transaction is authorized, a "capture" is the next step. The capture takes the information from the successful authorization and charges the authorized amount of money to the consumer's credit card merchant service. In line with bank card association rules, the merchant is not allowed to capture transactions until the ordered goods can be shipped, so there may be a time lag between the authorization and the capture .If the consumer cancels the order before it is captured, a "void" is generated; if the consumer returns goods after the transaction has been captured, a "credit" is generated.
Online Credit Card Processing Offers Event RegistrationAccording to eply.com, online credit card processing is becoming much more common as consumers grow comfortable making online purchases. This change in thinking puts pressure on event planners to allow event participants to pay registration fees online using their credit cards. In the end, both event planners and participants win in terms of convenience, accuracy and security. Here is a simplified sequence of events that take place to process an online real time credit card processing transaction for an event registration.
The event participant fills out the online from, enters his/her credit ..
The final step is to "settle" the transaction between the merchant and the acquiring processor. Captures and credits usually accumulate into a "batch" and are settled as a group. When a batch is submitted, the merchant's payment-enabled Web server connects with the acquiring processor to finalize the transactions and transfe the cash to merchant bank account
