Originally Posted by
D582
This is not quite correct. Once the charge is authorised, the merchant obtains an authorisation number. They can then post the transaction much later using that authorisation as long as the amount does not exceed what was originally authorised, and the financial institution is required to honour that.
I have a merchant account so I know exactly how this works.
If the merchant doesn't post the transaction within 5-7 business days (depending on card issuer) that authorization is no longer valid and will drop off the account and the credit that was suspended to support the charge becomes available once more.
The merchant will then have to try and obtain another authorization and post the charge once again within the 5-7 days.