What is credit authorization in SAP IS-R-POS - Point of Sale?

SAP Term: credit authorization

• Component: IS-R-POS

• Component Name: Point of Sale

• Description: A check performed by the system when a customer pays for a transaction with a credit card. Before the transaction can be completed, an authorization request is sent to the credit authorizing agency, which checks the status of the credit account and either grants, denies or defers the authorizaton. Three types of credit authorization exist: automatic before the transaction is completed manual before the transaction is complete forced after the transaction has been completed

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• Key Concepts: 
  Credit authorization is a feature of the SAP IS-R-POS Point of Sale (POS) system that allows merchants to authorize and process credit card payments. It enables merchants to securely accept credit card payments from customers, and provides them with the ability to manage their credit card transactions. 
  
  How to use it: 
  To use the credit authorization feature, merchants must first set up a merchant account with a payment processor. Once the account is set up, merchants can then configure the POS system to accept credit card payments. Merchants can also set up rules for how they want to process credit card payments, such as setting a minimum or maximum amount for each transaction. 
  
  Tips & Tricks: 
  When setting up the POS system for credit authorization, it is important to ensure that all of the necessary security measures are in place. This includes encrypting customer data, setting up fraud prevention measures, and ensuring that all transactions are securely processed. Additionally, merchants should regularly review their credit authorization settings to ensure that they are up-to-date and secure. 
  
  Related Information: 
  The SAP IS-R-POS Point of Sale system also offers other features such as inventory management, customer loyalty programs, and analytics. Additionally, merchants can integrate their POS system with other systems such as accounting software or ecommerce platforms.