This type is used to determine a customer's ability to pay and financial management software to determine if they have sufficient funds on their credit card. In this case, no actual transfer of capital occurs.
If you need some time to ship a product ordered online and you need to secure funds from the card issuer, then it makes sense to use the authorized transaction type.
Capture transactions allow you to capture previously authorized funds and send payment platforms for websites them for international settlement. So, if you are selling a product in your online business that develops and requires us to spend a lot of time manufacturing/preparing for shipment.
You will first need to be paid by the teacher via authorization, and you will be able to receive a certain amount after the product is shipped - and then it will be transferred to your account.
Sales transactions are a combination of licensing and capture. If you execute the order immediately, this is the type of transaction you should use - the funds will be collected and transferred immediately.
It is also appropriate if you are a member of the service and provide immediate access to the user.
If something happens to a business that for some social reason we have to cancel an order through, the merchant will need to refund the transaction and submit the data for processing.
In most cases, refunds are limited to the original amount authorized, and they can only be applied to product sales and capture transactions.
Void transactions are processed in a similar manner to refunds, but can only be developed and applied if the transaction has not been settled (captured) by the marketplace.
Usually, the transaction information disappears from the customer's account statement within 24 hours, while processing problematic refunds may take us 3 to 5 business days. Voiding is also cheaper than refunding as well as some.