What is credit card authorization

What the landlord said should be "pre-authorization".

Pre-authorization of credit card refers to the transaction in which the card issuer or its agent confirms that the license is frozen before the special merchant deducts money. Pre-authorization will occupy the credit line of the card. When the customer settles the pre-authorization, the pre-authorization will be cancelled. Within 3 days after the pre-authorization, if the customer fails to settle the account, the pre-authorization will be cancelled.

to put it simply, pre-authorization of credit card means that the merchant freezes a part of the funds before the cardholder spends, and the merchant can formally deduct this part of the funds after the cardholder signs it. For example, if you go to stay in a hotel, first tell the hotel how many days you will stay, and the hotel will freeze the expenses needed for staying in these days from your credit card. After confirming the consumption amount when you check out of the hotel, the hotel will use your card for pre-authorization, so that the actual consumption amount will be deducted from your card and the hotel will receive this part of the money. The reason for this is to ensure that the money in the cardholder's credit card is enough for current consumption.

Agency authorization: It means asking other companies to sell credit cards on behalf of them. For example, CITIC Bank has seven companies that act as agents.

questions about applying for a credit card! Can you authorize a friend to pick it up at the branch?

1) I recently applied for a credit card, but when filling out the form, I asked to get it at the branch, but I can't get it at the branch because of personal problems. Can I authorize my friend to get it on my behalf? Can you ask the bank to check my identity with me before asking my friend to collect it? Answer: You can withdraw your new credit card as long as your friend brings your power of attorney and gives it to the bank staff as evidence together with his personal identification documents. 2) If you apply for credit cards from multiple banks at the same time (of course, you won't approve them every once in a while, but you try with the mentality of withdrawing from the network, will there be a big problem? A: This does not violate the law. Since it is not bound by any laws and regulations, what's the problem? , reference: Moonlight,

Is the transaction authorized by the card organization not an online transaction

Hello, dear, the transaction authorized by the card organization must not be a parent of online transaction, and online transaction is not allowed. Chapter 2 Specification of transaction

2.1 Card organization: the owner of payment business network and the maker of technical standards

2.1.1 Card organization definition:

Also known as. An international or regional payment organization composed of members of various banks or payment institutions

2.1.2 Functions of card organizations

1. Authorize its members to issue credit cards (usually, card organizations themselves do not issue credit cards directly to consumers) 2. Accept and transfer card transactions of merchants 3. Formulate and implement business norms and technical standards for inter-bank transaction of payment cards, and build and operate their own unified regional processing network or international processing network. Information conversion and capital settlement of payment card (credit card or debit card) transactions among members are conducted through card organizations.

2.1.3 Common card organizations

Domestic: UnionPay, Network Link

Foreign: VISA, MasterCard, Express, JCB

Different card organizations have different transaction networks and technical specifications

What is credit card authorization and sub-authorization? Please give an example to illustrate that

generation authorization refers to MasterCard cardholders who are caused by equipment or network failure.

that's enough for the introduction of credit card authorization.