How we define a Transaction based on the specific activity
| Authorize | This transaction is just asking if the funds are available in the cardholder’s account – if there is no associated capture transaction then this will void after 7 days. |
| Capture | The money is taken from the cardholder’s account. A transaction cannot progress to ‘capture’ without an authorize. |
| Chargeback | When a Chargeback (dispute) has been raised against a transaction. |
| Chargeback-reversal | When a Chargeback has been successfully challenged (Won) and the bank returns the funds. |
| Purchase | Most customers’ transactions (payments) just have a purchase as the type (authorise and capture is done in 1 transaction). |
| Refund | A refund has been issued. |