What does Authorization code mean?
The authorization code is a generic term referring to a code or password used by an authorized card processor or a credit card issuer to indicate whether a transaction was authorized or denied, or that the user is authorized to purchase, sell or transfer an item or items, or that the user is enabled to enter information into a secured space. For instance, this type of code would be needed for a vendor to process a card transaction on behalf of a client paying for goods.
Another example would be that only certain individuals would have the authority to finalize major expenses, and would probably have access to an authorization code in the company records. It is a common practice to attach authorization codes to credit card transactions, not only because the merchant needs confirmation for the transaction, but also to identify the same transaction in later examinations, like disputed transactions.