Products & Features
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      1. Sales Enablement
      2. Products & Features

      AUTHORIZATIONS

      Card processing is broken and prohibitive to growth, and the feature of authorizations is one signal of this:

      • Authorizations expire at a deadline defined by the card issuer and subject to their discretion.

      • The card issuer will not inform the merchant of that timeline or if their authorization has expired.

      • Instead of releasing funds back to the customer the moment the merchant releases the authorization, many card issuers just wait for the authorization to expire naturally (which withholds funds from the customer unless the customer calls).

      Working with many businesses who previously experienced this issue, we’ve found authorizations to create a false sense of security. Many businesses had been burned by fulfilling an order thinking funds were secured. Yet when it came time to charge the card, the funds were gone.

      Paystand incorporates the "Capture" method rather than "Pre-Authorizations."

      Paystand strives to create more security around this process, no matter the length of time to fulfill an order. The funds are secured from the customer (and no more funds than an authorization would) and if adjustments need to be made, Paystand delivers the functionality to immediately act on them:

      • If too many funds were secured, Paystand provides full and partial refunds immediately.

      • If more funds need to be secured, Paystand provides functionality to re-engage the funding instrument for the additional amount.

      • Once the correct funds are secured, fulfill the order.

      Within NetSuite, this experience looks like this:

      1. Start your Sales Order and capture the payment for that estimated amount

        This can be done by the customer, by sending them the Sales Order, or by your staff taking information over the phone and entering it into Paystand’s Virtual Terminal.

      2. When the order is ready to be fulfilled, depending on the amount, you can:

        1. Create a Refund in NetSuite (if too many funds were secured for this order)

        2. Capture more funds by either sending an adjusted Sales Order for the customer to pay, staff can use the Virtual Terminal to charge the difference to any previously used payment instrument, or release the order as the correct funds have been captured (If not enough funds were captured).