When a shopper places an order, the transaction information is sent to the issuing bank for authorization. The issuing bank will decide whether to decline the authorization or accept the authorization.
If the bank declines to authorize the transaction, the shopper will not be able to complete the purchase and will be notified of the decline (see screenshot below). You can view all failed authorizations in the Bolt Merchant Dashboard
If the bank authorizes the transaction, the shopper’s funds will be put on hold until one of the following occurs:
The Authorization Window is a period of time that a transaction can remain authorized without capture before Bolt automatically voids the authorization and funds are no longer guaranteed by the issuing bank. The Bolt authorization window is 7 days, and authorizations are voided after 7 days if not captured.
Merchants can still attempt to capture payment between 8 - 14 days after the original event, but the authorization may fail. If authorization fails (for example, if the card expires within the 7-day period), the transaction is voided.
Once a payment is authorized, the shopper’s funds are put on hold until the merchant confirms that the order will be fulfilled. The action of confirming that the order will be fulfilled is called Capture.
Upon capturing an order, funds from the transaction are moved from your unsettled balance to your settled balance and transferred to your bank during the next day’s payout schedule.You will hold a liability on your books until the order is shipped and received by the shopper.
To switch between immediate and delayed capture or to enable or disable multiple capture, contact your Customer Success Manager.