Card-Present POS Payment Card Authorization definition
Card-Present POS Payment Card Authorization means a payment card transaction authorization process in which the payment card issuer that issued the cardholder's payment card verifies that there are sufficient funds available in the cardholder's credit account or debit account to pay the amount of the retail purchase and electronically "puts a hold" on those funds in during the retail transaction payment process. The payment card authorization process also includes a software-based fraud risk analysis that provides a fraud risk score whether the payment transaction involves the genuine cardholder or an imposter. The payment card authorization process typically is performed in ten (10) seconds or less.