Mastercard to end sneaky subscriptions. Free Trials Without The Hassle. #Mastercard #Payments

Mastercard, later this year, will require shops and businesses to contact cardholders when a trial period comes to an end, giving them details of the transaction/subscription and how to cancel it if they wish to. In short this means your online actions be it shopping via apps or web services which often lead to subscriptions and we tend to forget about will be a thing of the past and this is very welcome news for all..

 

Mastercard say .. At Mastercard, we want every commerce engagement to be simple, safe and secure and we are introducing rules for merchants that offer free-trials to make this a hassle-free experience for their consumers. The rule change will require merchants to gain cardholder approval at the conclusion of the trial before they start billing. To help cardholders with that decision, merchants will be required to send the cardholder – either by email or text – the transaction amount, payment date, merchant name along with explicit instructions on how to cancel a trial.

For each payment thereafter, the merchant will have to send a receipt to the cardholder for each transaction by email or text message with clear instructions on how to cancel the service if the consumer so desires.  In addition, all charges that appear on the cardholder’s statement must now include the merchant website URL or the phone number of the store where the cardholder made the purchase.

Full article HERE

Written by Jim O Brien/CEO

CEO and expert in transport and Mobile tech. A fan 20 years, mobile consultant, Nokia Mobile expert, Former Nokia/Microsoft VIP,Multiple forum tech supporter with worldwide top ranking,Working in the background on mobile technology, Weekly radio show, Featured on the RTE consumer show, Cavan TV and on TRT WORLD. Award winning Technology reviewer and blogger. Part time actor and security professional and brutally honest when it comes to opinions.
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