What is a credit card hold?
When you secure funds using a credit card hold (also called an authorization), it means that amount is rendered unavailable to the cardholder until you release the hold or until that amount is captured (charged to the card).
Holds on Paynode are valid up until 6 days. After 6 days they are automatically cancelled.
How to place a hold on a credit card:
In order to place a hold (authorization) on a credit card, go to the Payment Request form.
When you select “Credit Card” as the Payment method in the Payment Request, you will be presented with two options:
Capture payment immediately
Once the card details are submitted for processing, Paynode will immediately capture the funds and complete the transaction.
Hold payment for 6 days
Once the card details are submitted for processing, Paynode will authorize the charge but not capture the funds.
Once the credit card has been authorized and a hold has been placed on a card, this will be reflected in the Incoming payments list. The status will say “Hold authorized”.
When you expand the transaction to see the further detail, you will have two options.
This means that you want to complete the transaction on the credit card. The funds will then process and settle just like with a normal card transaction.
This means that you want to release the hold. If you do so, the hold will disappear from the cardholder’s statement, and you will not be able to capture the funds without placing a new hold on the card. If you wish to place a new hold, the same Payment Request can be used, or you can create a new one. If you do not want to place a new hold on the card, you can void the Payment Request.
NOTE: If no action has been taken after 6 days, the hold will be automatically released.