e-Commerce Glossary · P-R

What Is Authorization (Provizyon)?

Authorization (provizyon): Provizyon means the approval of a credit card transaction. When a sale is made, the seller applies to the bank to collect a certain amount from the credit card. The bank checks whether the card is valid and has sufficient limit, and if it approves the transaction, the authorization has been obtained. This means the seller can complete the transaction and the payment will go through.