Definitions for "Authorization Only"
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.