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Transaction CaptureCapture refers to the process of submitting a credit card transaction electronically for a settlement with the financial institution that issued the credit card. If a credit card is authorized, the transaction must be captured and settled at the time of sale. If the merchant does not do this, they will not receive the funds for those particular sales.Capture is one of many processes that occur at the point of sale machine. When the credit card is scanned or entered online, the point of sale machine or software automatically submits the credit card transaction to the authorizing institution for capture and settlement. Neither merchants nor customers think twice about capture because it occurs automatically. If the transaction is not approved, capture does not occur. When this happens, the customer needs to find another way to pay for the sale, because it means that there is most likely a problem with the credit card or account. More Glossary Terms Explained here |
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