Mastercard policy changes prevent companies from auto-billing you after a free trial

Mastercard policy changes prevent companies from auto-billing you after a free trial 1

Since free trials first became popular, people have always fallen victim to one of the oldest sales tricks in the book – auto billing. We all know the drill by now: you go to sign up for an interesting-looking new service (such as Netflix), and after the free trial is up, you forget to cancel your subscription.

In many cases, you probably don’t even realize the trial is over until you’ve already been billed for another month.

Some may argue that it’s purely the customer’s role to monitor and cancel unwanted subscriptions, but it seems Mastercard disagrees. Policy changes announced by the financial company today put the burden of responsibility firmly on the shoulders of merchants who use post-trial auto-bill tactics.

Specifically, such vendors will have to request “official authorization” before recurring subscriptions can take effect. Furthermore, companies will be required to send customers detailed monthly receipts with payment due dates, amounts, service names, and information regarding how said customer can cancel their subscription should they so desire.

As consumer-friendly as these new rules are, it’s worth noting that they only apply to Mastercard customers for now. That said, there’s always the possibility that merchants will comply with the rules across the board for the sake of simplification; much like several tech companies have chosen to do with the GDPR.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

What Are E-stablecoins And How Do They Operate?
What Are E-Stablecoins And How Do They Operate?
August 11, 2022
How to Choose a Legit Crypto Casino?
August 5, 2022
Spend Crypto
5 Ways to Spend Crypto
August 2, 2022
What Is A DAO LLC?
What Is A DAO LLC?
August 2, 2022
Can Running A Lightning Node Earn You Passive Income?
Can Running A Lightning Node Earn You Passive Income?
July 5, 2022

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin24,005 0.47 % 1.49 % 5.85 %
Ethereum1,900.6 0.71 % 0.41 % 17.87 %
Tether1.001 0.25 % 0.06 % 0.00 %
USD Coin1.000 0.44 % 0.25 % 0.18 %
BNB323.81 0.49 % 0.69 % 4.16 %
XRP0.3748 0.16 % 1.12 % 0.51 %
Cardano0.5328 0.27 % 0.84 % 6.06 %
Binance USD1.001 0.07 % 0.54 % 0.10 %
Solana42.12 0.56 % 2.22 % 3.81 %
Polkadot9.420 0.95 % 1.42 % 16.19 %

Bitcoin (BTC) $ 23,932.00
Ethereum (ETH) $ 1,894.74
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 322.74
XRP (XRP) $ 0.374221
Cardano (ADA) $ 0.533228
Binance USD (BUSD) $ 1.00
Solana (SOL) $ 43.09
Polkadot (DOT) $ 9.37