Authorized amount

Merchant Accounts

		Credit Card Glossary: Terms and Definitions
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In routine credit card transactions, the authorized amount is the approved amount of money to be charged. After transactions are approved, the authorized amount is deducted from the amount of available credit.

Related Terms:approval response, association, authentication, authorization, authorization date, authorization only, authorized transaction, bank identification number (bin), blocks, carbon-paper packets, card issuer, card present transactions, card reader, charge-back, charge-back period, closed loop, credit card number, deadbeat, debit card, discount rate, discover card, dormant account, encryption, floor limit, gift card, hold, in-house, interchange fee, issuer identification number (iin), key, mail/phone order merchant, mail/phone order transaction, mastercard, mastercard acquirer, mastercard card, mastercard issuer, merchant agreement, merchant bank, open loop, per transaction fees, pin (personal identification number), point of sale (pos), post date, private label, settlement bank, signature strip, transactor, user authentication, void transaction, zip-zap machine

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		Saturday, November 21st 2009

Credit Card Glossary: Terms and Definitions

Authorized amount