Merchant Glossary: Authorization Code
Click Here for a 30 Day Risk-Free TrialAuthorization code is the response code from the issuing bank returned to the merchant at the time of authorization. This code is usually 6 or 7 digit number and is recorded either by the point of sale terminal or software, as well as printed on any receipt or sales draft. If doing a phone or voice authorization, the merchant should record the authorization code for reference. The code serves as proof of authorization.
Other articles terms explained in the Merchant Glossary:
ACH / Automated Clearing House
Acquiring Bank
ATM Debit Card
Authorization
Authorization Code
Authorization Fee
Authorization Only Transaction
Authorization Response
Average Ticket Size
AVS / Address Verification Service
Basis Points
Batch or Batch Processing
Business Type
Debit Card
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