The table below lists the transaction types and their description.
|
Transaction Type |
Description |
|
Authorization |
Initiates the transaction but collects the payment later. It is the first part of a two-step process primarily used by large merchants who require greater flexibility when processing payments. The first step, Authorization, sends a request to verify that the credit or debit card has sufficient funds and reserves the requested amount. If sufficient funds are available, the second step is to manually capture the funds. You can capture a transaction amount that differs slightly from the amount that was originally authorized. This process enables the merchant to modify the order amount to reflect changes (such as taxes, shipping, or item availability) that occur after the initial order is placed. |
|
Capture |
Capture marks the funds set aside by an approved Authorization transaction for capture during the next settlement period. Merchants who do not ship goods immediately use this transaction type to collect funds when the goods ship. |
|
Credit |
Returns a specific amount to a transaction or credit card that was not originally processed through your PayPal Virtual Terminal account. If you want to credit a transaction that was processed using your PayPal Virtual Terminal account, perform a Refund transaction. Depending on your account, you may not have access to this option. Contact PayPal Customer Service for additional information, or to see if your account is eligible for Credit transactions. |
|
Refund |
Returns a specific amount to the customer for a Sale transaction you previously processed. You can send your customer a refund within 60 days after receiving the original payment. After 60 days of receiving the payment, you need use the Send Money tab to send the refund. |
|
Sale |
Instantly charges the specified amount against the account and marks the transaction for immediate funds transfer (capture) during the next settlement period. This option is commonly used by small and medium sized merchants. |
|
Void |
Prevents an Authorization transaction from being settled. If you initiated an Authorization, and now want to refund the customer, you must void the Authorization. Voids are only available on Authorization transaction types. Voiding an authorization cancels the entire open amount. You can initiate a void if:
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