00 - Approved
This indicates that the transaction has been authorised.
What authorisation DOES mean:
- The card number is valid
- The card has not been reported lost or stolen (although it may in fact be lost, stolen or compromised [card details improperly obtained or copied] and the card owner is unaware)
- There are sufficient funds available to cover the transaction.
What authorisation DOES NOT mean:
- An authorisation does NOT confirm that the person providing the card number is the legitimate cardholder. The risk remains that the person providing the credit card number has either stolen or improperly obtained the card.
- There is also the risk that the purchaser has compromised (improperly obtained) the card number, without being in possession of the card.
Although it is imported to obtain an authorisation for each transaction, it does not protect you from the risk of fraud or chargeback. The risk of fraud remains even though authorisation has been obtained.