Monday, July 15, 2019
Home Business Mastercard to limit automatic debits after a trial period

Mastercard to limit automatic debits after a trial period

There are countless companies that offer a trial period to subscribe to a subscription service. A strategy to attract new customers … but who can then book bad surprises on his bank account.

Through a press release, Mastercard announces improved transparency and new banking protections for its customers. From now on, the American company wants to force traders to inform their customers before the first payment is made.

The retailers – online or not – will have to " obtain cardholder approval at the end of the test before beginning to bill ". The levy will not be automatic, it will be necessary to wait for the client's permission.

He must be informed by email or text of the transaction amount, the date of payment, the name of the merchant and explicit instructions on the procedure to cancel his trial. An operation that will have to be systematic for each operation. The invoice must also include the seller's contact information, whether it is the URL of the website or the physical address of a store.

Mastercard stands out from its competitors Visa and American Express. On the other hand, the company did not communicate the date of installation, nor specified if these new measures will be deployed everywhere in the world.

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