Mastercard adds security to the company's bank card users



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Mastercard adds security to the company's bank card users



The credit card company this week announced a new policy requiring merchants to obtain bank card holder approval before the billing procedure begins.

Companies should send the cardholder a copy or a text that includes the transaction amount, payment date and instructions on how to cancel.



“For some consumers, a free trial is a great way to try out a new product and deal with it before making a purchase decision,” Mastercard wrote in its announcement.

“However, sometimes a free trial can inadvertently turn into a recurring subscription that is difficult to cancel. These situations can be frustrating and costly for both consumers and their banks. ”

The new policy also requires companies to send cardholders a copy or a text invoice of any transaction that includes instructions on how to cancel the subscription.

Plus, any fees that appear on the customer statement should now include the seller's web site link or phone number.

Mastercard adds security to the company's bank card users

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SIZE VALID YOU PAY BUY
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