What does ‘Authorisation Only’ mean?

Basically, it means that payment’s still processing (or that the merchant’s holding the funds for a deposit). When you buy something using the credit or paypass option on your card, the funds are reserved in your account as ‘Authorisation Only’. The merchant (where you made the purchase) then submits a claim for the funds. Once this has been received and processed, the merchant’s name will appear next to the transaction in your account and on your statement.