What is a void transaction in the context of retail or e-commerce?

[fisojel]

What is a void transaction in the context of retail or e-commerce?

[tosete5699]

A void transaction https://corefy.com/ru/glossary/void-transaction is a cancellation of a pending or authorized transaction before it is settled. It typically occurs shortly after the transaction is initiated, usually within a short window of time (often minutes to hours), and results in the transaction being completely erased from the customer's statement and the merchant's records. Voiding a transaction prevents it from being processed further, ensuring that no funds are transferred.