API - The term API is an acronym for Application Programming Interface. APIs allow computers from two different systems to communicate using a common protocol. In the case of PayPal, Turbify is using several PayPal APIs to make calls (requests) to PayPal to facilitate PayPal transactions between buyers and merchants.
Authorization - An authorization is made when a buyer places an order with you. The funds for the order are put on hold for an honor period of three days. PayPal will return an Authorization ID that's used when you capture funds.
Capture - When you capture funds, you're placing a request to PayPal to process a pending authorization or reauthorization. If successful, capturing funds moves the funds specified from the buyer's account or funding source to your account.
Honor period - The term honor period is defined at the time, in this case three days, during which PayPal guarantees 100% of authorized funds. We advise you to capture funds during the honor period, if possible, or to perform a reauthorization.
Random Deposit Verification - The process by which PayPal verifies an account to which a bank account has been added, by making small random deposits that the account holder needs to confirm. The process of verifying bank accounts adds a greater degree of security.
Reauthorization - You reauthorize an order to verify that funds are available to capture. Reauthorizing an order, when successful, creates a new honor period during which funds up to 100% of original authorization total are guaranteed by PayPal to be available. Reauthorizing will create a new transaction ID, which will appear in the Payment section of the order in the Order Manager.
Seller Protection Policy - If you follow specific selling practices, the Seller Protection Policy is meant to provide you with protection against fraudulent payments. Consult the PayPal User Agreement for terms and conditions.
Transaction settings - You can select PayPal transaction settings to either capture funds automatically (default) or authorize and then later capture funds. You can access these settings in the Payment Center by clicking the Edit button that appears after clicking the name of the account you wish to edit.
Void - By voiding an authorization, you release any funds reserved during the honor period. You can only void an authorization, not funds that have already been captured. If you've captured funds that you wish to return to the buyer, you'll need to issue a refund.
