MasterCard announced a new policy today for merchants who retain your card information after you sign up for a free trial. Soon, MasterCard will require those merchants to request an official authorization for any recurring subscriptions.
This is great news for forgetful or busy people who might not want to continue paying for a service or product that they just wanted to test out. For example, if you signed up for a new streaming service with your card info, then forgot you had the subscription, the merchant will send you an email or text notice before the next payment is due.
Once you receive the merchant’s message, you’ll find it includes the transaction amount, payment date, and merchant name, plus explicit instructions on how to...