Credit card pre-authorization is completed, also called credit card pre-authorization confirmation. After the credit card holder completes the consumption, it does not mean that the entire transaction of credit card pre-authorization is completed. In addition to the credit card pre-authorization step, there is also the completion of credit card pre-authorization. So what is the completion of credit card pre-authorization? Credit card pre-authorization confirmation, completion of pre-authorization confirmation and pre-authorization completion are the same thing, but each bank calls it differently. That is, when the cardholder completes the consumption and determines the consumption amount, the pre-authorized merchant will complete the card payment through the POS terminal or manually based on the cardholder's actual consumption amount within the pre-authorized amount or a certain proportion exceeding the pre-authorized amount. In order to prevent the cardholder from running out of orders, the pre-authorization process does not require the cardholder to enter the password again at the POS terminal. This practice has become an industry practice in the credit card pre-authorization business. A password is required when doing pre-authorization, and no password is required to complete it. Some POS can do pre-authorization without even needing a card. As long as there is a pre-authorization form, the credit card and authorization number can be completed within 30 days; in short, pre-authorization No password is required for subsequent transactions, such as pre-authorization completion/confirmation, pre-authorization revocation, pre-authorization completion revocation, etc. Credit card pre-authorization transaction process Credit card pre-authorization transaction is a transaction type specially designed for the transaction characteristics of special merchants such as hotels, car rental companies or hospitals. Since the transaction authorization and fund settlement of such special merchants are not synchronized, and the estimated consumption amount and the actual settlement amount may be inconsistent, credit card pre-authorization transactions usually include two transaction links: pre-authorization and pre-authorization completion: The pre-authorization link, that is, the credit card holder When a person starts consumption at a special merchant, he must swipe his card at the POS terminal, enter his password (if reserved) and sign the pre-authorization document. The bank will freeze the funds in the cardholder's credit card account based on the pre-authorized amount, and its legal effect is It means that the special merchant obtains the bank's unconditional commitment to pay within the pre-authorized amount. At this time, the special merchant provides services to the cardholder based on its trust in the bank's credit; if the cardholder runs out of orders, the special merchant can contact the bank through the bank The consumption amount is deducted from the cardholder's account. You can look at the purchase form when pre-authorizing. If pre-authorized, it will say pre-authorized. Pre-authorization means that the account will be deducted after it is given. You are allowed to authorize it. The completion of pre-authorization means that the authorization has been completed. Usually when we book a room in a hotel, we have pre-authorization, deduct the deposit first, and then wait for check-out. After settlement is completed, pre-authorization is completed.