article thumbnail

Can Virtual Cards Void Checks’ Feeble Future?

PYMNTS

In terms of mechanics, a single-use account means that each supplier payment is tied to a virtual account number, and the credit limit is set to the amount that is dictated by each payment.

Void 76
article thumbnail

Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

Credit Limit The maximum amount that a cardholder can charge within their credit range. U Underwriting The process of assessing the risk of a merchant account and determining the appropriate fees and processing limits. Void The process of canceling a transaction before it is completed. PayHawk is Here to Help!

Process 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

The top 15 spend management software in 2023

Nanonets

Cons of Brex: Some users find it confusing to transfer funds between the credit card and bank side. The availability calculation for credit limits may lack transparency and predictability for some users. Would benefit from more assistance in identifying areas of overspending and tracking spending around specific accounts.

article thumbnail

How long do pending transactions take to clear?

EBizCharge

This typically happens when an authorization is placed but later voided. Fraud and anti-fraud authorizations Banks and credit card companies implement fraud and anti-fraud authorizations to prevent unauthorized transactions, which can place a hold on transactions to investigate suspicious activity. Can pending transactions be declined?