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.
The policy is aimed for busy people who might not want to continue paying for a service or product that they just wanted to test out. Sometimes, a free trial can unwittingly turn into a recurring subscription that is difficult to cancel. These situations can be frustrating and costly for both consumers and their banks.
For more information about Mastercard Payment Gateway Services, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now