The term “authorization” refers to the process of verifying with a prepaid card issuer that an account has sufficient funds available and is in good standing. When a prepaid debit card transaction is “authorized”, the available balance of the account is reduced by the authorized amount.
In some types of prepaid
An “authorization code” is a numeric or alphanumeric code sent by a prepaid card issuer to a merchant terminal verifying that a sale has been authorized or approved. The authorization code can be used to look up a transaction and is also used to clear and settle transactions (to
Decoupled debit is a concept originated in approximately 2007, and refers to a debit payment card accepted by businesses as a network-issued debit card but where the funding for the purchase amount is acquired from the checking account of the consumer via ACH. In June 2007, Capital One was the