Which organization finalizes the authorization approval process?

The issuing entity is the organization responsible for finalizing the authorization approval process. This entity typically refers to the bank or financial institution that has issued the credit or debit card to the consumer. When a transaction is initiated, the merchant submits the transaction details to the payment processor, which then routes the request to the issuing entity. The issuing entity assesses the transaction, checks for fraud, confirms the availability of funds, and ultimately decides whether to approve or decline the transaction.

In this context, the issuing entity's role is crucial because it holds the account holder's information and possesses the necessary authority to release or deny the transaction based on specific criteria. Their approval is essential for the transaction to proceed successfully, which is why they finalize the authorization approval process.