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authorization and settlements in this video we will explain how a bank card transaction is authorized and how that same transaction is settled first lets explain the authorization process for this example we will assume it is a hundred-dollar transaction the merchant or cardholder initiates the transaction typically using a bank card terminal or other card reader device from the merchant the hundred-dollar transaction is sent to the bank card group the bank card group sends the hundred-dollar transaction to the card network Visa Mastercard Discover or American Express from there the hundred-dollar transaction is sent to the issuing Bank of the cardholder to see if there are sufficient funds to approve the transaction the issuing bank either approves or declines the hundred-dollar transaction if it is approved the issuing bank sets the hundred dollars aside and sends an approval code back through the card network and then to the bank card group and back to the merchant all of this hap