Mastercard releases new policy for merchants that retain card information

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.

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