Looking for Credit Card Authorization Form Template?
Credit Card has been an integrated part of our daily life nowadays and we use this whenever we get into cash shortage. It’s very convenient and easy to use. To purchase some online services and tools we need a credit card details to enter so that the service provider can charge my card on an interval basis- may be on monthly basis or yearly basis.
As a business when you are going to charge a customer’s credit card you must have a document that proves you are the authorized person to do so. It’s called a recurring credit card authorization form.
Credit Card Authorization Form- Why To use this?
Well, it’s a tool for protection actually. If you have charged someone without their proper consent, then the customer may ask for a return and you will be charged an amount for that. This thing is called chargebacks in banking terminology. That’s why the form of credit card authorization in needed while singing the agreement!
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What is a credit card authorization form?
The form is not a big basket of legal documents. But yes, it’s a simple looking form where the customer signs so that you can charge a fixed amount anytime mentioned in the form. The interval of time depends on the service or product is being used. It can be monthly, quarterly, or more sporadically.
This form protects you from being charged back by the credit card issuer. When a person gives a dispute for resolution to the credit card provider and asks for reverse the amount deducted, the recurring credit card authorization form can protect you from the charges.
The formalities related to chargebacks are really time-consuming and includes a lot of paper works. That’s why this form is a perfect tool to protect your business from that.
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Another thing that this form does is- it protects you from any kind of indemnity to be provided to the card issuer and if in case you haven’t received any recurring charge from a customer and if the customer anyhow betrays the agreement and doesn’t pay you, the chance of winning the cases will be higher for you.
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Credit Card Authorization Form Template- Free Printables!!
Credit Card Authorization Form Template- Points That It must include
Card type: It should be clearly mentioned on the card. Generally, people use a famous card provider. It can be anything amongst VISA, Master, American dinner’s club etc.
Name on card: This parameter is important to recognize the card when dispute pops up.
Card number: Another mandatory thing to fill up. Card no is important to charge the customer through electronic channels.
Expiration date: Always get the information about validation period, especially about the expiration date.
The merchant’s business information: It’s your call, as a business you must declare why the card will be charged.
Cardholder’s billing address: Address of the cardholder is important to send intimation if any kinds of dispute pop up.
At last, there should be a place for name and signature of the cardholder. Don’t forget that! Stay tuned.
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