How we define a Transaction based on the specific activity
|Authorize||This transaction is just asking if the funds are available in the cardholder’s account – if there is no associated capture transaction then this will void after 7 days.|
|Capture||The money is taken from the cardholder’s account.|
A transaction cannot progress to ‘capture’ without an authorize.
|Chargeback||When a Chargeback (dispute) has been raised against a transaction.|
|Chargeback-reversal||When a Chargeback has been successfully challenged (Won) and the bank returns the funds.|
|Purchase||Most customers’ transactions (payments) just have a purchase as the type (authorise and capture is done in 1 transaction).|
|Refund||A refund has been issued.|