Transaction sales are submitted and immediately flagged for settlement.
Transaction authorizations are authorized immediately but are not flagged for settlement. These transactions must be flagged for settlement using the capture transaction type. Authorizations typically remain active for three to seven business days.
Transaction captures flag existing authorizations for settlement. Only authorizations can be captured. Captures can be submitted for an amount equal to or less than the original authorization.
Transaction voids will cancel an existing sale or captured authorization. In addition, non-captured authorizations can be voided to prevent any future capture. Voids can only occur if the transaction has not been settled.
Transaction refunds will reverse a previously settled transaction. If the transaction has not been settled, it must be voided instead of refunded.
Transaction credits apply an amount to the cardholder's card that was not originally processed through the Gateway. In most situations credits are disabled as transaction refunds should be used instead.
This action is used for doing an "Account Verification" on the cardholder's credit card without actually doing an authorization.
Transaction updates can be used to update previous transactions with specific order information, such as a tracking number and shipping carrier.
An Internet Merchant Account is sometimes referred to as a "MOTO" (Mail Order & Telephone Order) Account because they all require the ability to process a credit card payment when there is no physical credit card present to be swiped. A standard retail "swipe" merchant account does not allow processing of these "card-not-present" transactions.
If the domestic banks are denying your merchant application because they believe your industry is considered high risk, CyoGate can help! We have an offshore network of merchant processing partners that enable us to provide low cost, high risk merchant solutions to a much wider range of businesses and industries.
The CyoGate Internet Payment Gateway offers one of the quickest and most cost effective ways to accept and process credit card and electronic check payments online. Our payment gateway works with most existing merchant accounts and supports hundreds of popular web shopping carts and eCommerce platforms.