Assertion: merchant's transaction | /r/HasProperty | approved
Facets:
Source sentences:
text: Payment gateways are software and servers that transmit transaction information to acquiring banks and responses from issuing banks (such as whether a transaction is approved or declined).
text: These processors perform many functions, such as evaluating whether transactions are valid and approved, using anti-fraud measures to assure that a purchase transaction is initiated by the source it claims to be.
text: When notified, the card holder’s issuing bank then determines whether the transaction with the merchant will either be approved or declined based on the card holder’s line of credit.
text: If the transaction is approved, then the amount of the transaction is deducted from the card holder’s account and the cardholder is given a receipt.
text: In the interest of efficiency, merchants usually submit all their approved transaction to their acquiring banks – via their payment processors – at the end of every day, in a batch.
text: Transactions are approved/not approved by the card issuing bank; not PayTrace.