What is a credit card Authorization?
An authorization is different from a deposit because the funds are not actually taken from the account. Your bank will place a hold of funds against your credit card’s available account balance. Once the authorization is released, the funds are then available to be used. Authorizations are automatically released when your credit card is charged at the end of your rental.
An authorization is different from a deposit in that the funds are not actually taken from the account. Your bank will place a hold on your funds in the amount of the authorization. Debit card accounts will show a deduction in cash, though Uno4 does not receive the funds. Once the authorization is released, the funds are available to you. Authorizations are automatically released upon return of your phone.
• The process in which a credit card is accepted, read and approved for a sales transaction. Credit card authorization is normally accomplished by reading a credit cared through a credit card reader that is integrated into a register or stand-alone reading device. Generally, pertinent credit information is transmitted via a modem and telephone line to a credit card “clearinghouse”.
