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.
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