A pending transaction refers to a payment that has received authorization but has not yet been fully executed or settled. It usually shows up as "pending" on a customer's bank statement until the funds are finalized and transferred. For travel companies, it is crucial to comprehend pending transactions to effectively manage cash flow and facilitate seamless payment processing, as the time required for these transactions to settle can vary depending on the payment method or the banking procedures involved.
Pending transactions are common in travel bookings, where authorisations are made to secure services like hotel rooms or car rentals but only settled upon the customer’s use or arrival.
Managing customer inquiries regarding pending transactions and ensuring that payments are settled in a timely manner are essential for maintaining customer trust and satisfaction.
- Pending transactions are authorised but not yet settled.
- They are used to secure travel services until final confirmation.
- Clear management and communication are necessary to handle pending transactions.
Felloh helps travel businesses manage pending transactions by offering real-time tracking and detailed status updates on payments awaiting authorization or settlement. This visibility allows companies to effectively monitor cash flow and anticipate when funds will clear, improving financial planning and reducing uncertainty. By automating notifications and alerts for pending transactions, Felloh ensures that businesses are always informed of the payment process, enabling them to resolve potential issues faster and maintain smoother financial operations without delays or disruptions.
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Felloh provides PCI-compliant card processing, partnering with multiple merchant acquirers to offer competitive rates for Visa and Mastercard transactions. You can also choose to accept Amex cards. With real-time transaction data, you’ll see completed transactions instantly in your dashboard.
