Updated by Lynn Varnell
What are the common transaction types?
Capture - This captures the amount on the cardholder's account and prevents it from being allocated elsewhere but does not include the act of transferring the funds to your bank account. That requires an additional transaction type called Authorize.
Authorize - This authorizes the funds to be released from the cardholder's bank to yours.
Refund - Intiating a return of funds to the cardholder.
Sale - The combination of a capture and authorize.
Void - Available for a short period of time after a transaction is processed that allows it to be cancelled.