Credit card pre-authorization refers to the behavior of customers to pre-authorize through credit cards, debit cards and other credit cards. Pre-authorization means that the merchant will deduct a certain amount of fees from the customer's credit card for pre-authorization before the customer makes shopping or consumption, so as to ensure the transaction safety of the merchant. This can prevent customers from leaving the mall without paying fees or breaking the contract, causing losses to businesses.

What is the process of pre-authorization of credit cards?

The process of credit card pre-authorization mainly includes authorization and anti-authorization. When the customer pre-authorizes the credit card, the merchant will pre-authorize and deduct the customer's bank card through the credit card acquiring terminal, and the authorized amount is generally between 10% and 20% of the actual consumption amount. When the customer actually consumes, the merchant will send a debit instruction to the bank for debit. If the customer does not spend or leave the mall, resulting in the cancellation of subsequent transactions, the merchant needs to cancel the pre-authorization and release the frozen funds to the customer.

What are the precautions for credit card pre-authorization?

Although the pre-authorization of credit card ensures the transaction safety of merchants, it also needs to pay attention to the following points: First, customers should pay attention to whether the pre-authorization amount exceeds the actual transaction amount; Secondly, merchants should ensure the accuracy of pre-authorization information and avoid repeated deductions from customers due to operational errors; Finally, merchants need to clarify the time range of pre-authorization to avoid the situation that customers' funds are frozen for a long time because of late authorization.