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How to Void a Credit Card Authorization Directly from NetSuite
Organizations that process credit card transactions through NetSuite will be pleased to learn of an enhancement with the release of update 2016.2.  The new feature allows for credit card authorizations to be voided directly within the system by either closing or canceling the related Sales Order. Prior to 2016.2, users were required to login to their payment gateway account to void an authorization. What is Credit Card Pre-Authorization? In this article, the terms authorization and pre-authorization are used interchangeably to refer to a temporary hold placed on funds, without actually processing a charge to the card. This authorization ensures that a buyer has sufficient funds or credit in their account to cover the amount of the purchase. For the duration of the pre-authorization, the funds are “reserved”, meaning that the cardholder cannot spend this money elsewhere or allocate the credit to another transaction.  If the merchant does not “capture” or […]
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