payment-hold

Vocabulary Word

Definition

'Payment hold' is when a payment you’ve made or received is temporarily halted. Similar to a football game being paused, it means the transaction isn’t completed yet.

Examples in Different Contexts

For freelancers, a 'payment hold' might affect cash flow. A freelancer could remark, 'My payment is on hold until the client approves the work.'

Practice Scenarios

Tech

Scenario:

Our customers are reporting that their transactions are freezing halfway. We need to investigate the problem and fix it promptly.

Response:

Let's initiate a payment hold for the customers affected and look into the issue. We might need to debug the payment gateway.

Business

Scenario:

One of our long-term clients has raised a concern about unexpected charges. We need to look into this matter further.

Response:

I understand. Let's put a payment hold on the account until we fully investigate and resolve the issue.