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Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

Batch A group of transactions that are processed together at the end of a business day. Credit Limit The maximum amount that a cardholder can charge within their credit range. U Underwriting The process of assessing the risk of a merchant account and determining the appropriate fees and processing limits.

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How long do pending transactions take to clear?

EBizCharge

The time it takes for pending transactions to clear may vary depending on the type of transaction and the policies of the merchant or credit card company. Typically, transactions clear within 1-5 business days. on Monday through Friday) often clear on the next business day, making it difficult to initiate a cancellation.