1a obsolete : reward or punishment dueb : the qualities or actions that constitute the basis of one's deserts Opinions of his merit vary.c : a praiseworthy quality : virtue but originality, as it is one of the highest, is also one of the rarest, of merits â E. A. Poed : character or conduct deserving reward, honor, or esteem; also : achievement ...
When you use your Debit Card for a purchase and use the card as credit, the merchant will request an approval or âauthorizationâ for the transaction. The authorization confirms that an account is open and the purchase amount is approved at the time of request. Many merchants request an authorization for the exact amount. However, some merchants send an amount as low as $1 for authorization. Each authorization will show as a pending transaction.
A pending authorization is placed as a hold on an account when a credit card is swiped or keyed in manually, followed by the merchant's request for authorization to charge a specific amount of money. Once the hold is placed, the dollar amount will be logged as a pending transaction and deducted from the available credit remaining in the account. The amount of the pending authorization can be the exact amount for a finalized sale, or an estimated cost if the card is submitted before the purchase is completed.