What is charged when using telephone services for transaction authorization?

When using telephone services for transaction authorization, an authorization fee is typically charged. This fee covers the costs associated with verifying and approving a transaction before it is finalized. The process of obtaining authorization involves checking the validity of the transaction details, confirming the availability of funds or credit, and ensuring that it complies with the risk management policies in place.

The authorization fee is specifically related to the service of obtaining approval for a transaction through voice communication, which may involve specialized systems and personnel to ensure prompt and secure transaction authorization. Understanding this fee is essential, as it can impact the overall transaction costs for businesses that utilize telephone services for processing payments.

Other options such as service fee, processing fee, and verification fee may not specifically pertain to the distinct activity of authorizing transactions via telephone. These fees could encompass broader operational costs or different aspects of transaction processing, but the focused charge for obtaining approval in this manner is best defined as an authorization fee.