Do you have a credit card? Then, this article is exclusively for you! As a cardholder, you may have faced instances when you show consent for your merchant to charge you for a specific period as mentioned in the document.
Now, you express the consent by means of a credit card authorization form. If you are charged by your merchant without getting your consent on this form, reach out to merchant immediately and take action.
5W’s Of A Credit Card Authorization Form Template
A Credit card payment authorization form is a method by which you safeguard yourself from chargebacks. If you do not use this form, your merchant might charge you for recurring transactions without prior notice and you are less likely to win the complaint if you lodge one.
The form is usually issued on quarterly, half yearly and annual basis and it is upto the credit card holder to choose the duration. This is applicable for businesses as well. With this form in hand, you can charge your clients to their card instead of receiving chargebacks and losing money. Use it at right instance and keep a copy of the form handy!
1. Basic credit card authorization form
Every merchant uses this form to input details of card and take consent from the credit card holder. The signature in footer acts as the consent from the card holder and the charges are made towards the card in the future. This form can be directly filled by the holder and handed over to the merchant.
2. Multiple user authorization form
There are cases when the card holder allows the merchant to charge to card for transactions made by up to four users as named in the form. This form is detailed and the authorized names are added at the bottom area.
3. Recurring payment authorization form
This form is extremely helpful when you have purchased a recurring credit card. The merchant is entitled to charge the credit card holder for the billing period agreed by both the parties. In this case, the merchant directly charges without any prior notification during that period and any future charges/extension of duration can be added based on consent from both the ends.
4. Blank credit card payment authorization form
The purpose of blank credit card payment form is to allow the flexibility and freedom to merchants to decide the necessary fields in it so that the customers can enter accordingly. It is important to be accurate when you create the payment information as the customer has every right to lodge complaint against merchant for a fee that is not mentioned in the form.
5. Business credit card authorization form
As already mentioned, credit card authorization form is issued to both individuals and businesses. We have seen the authorization form meant for individuals in the first section of this article. This part is specific for business. It is detailed and allows the merchant to collect all the essential information from the business in one go.
6. Charge authorization form for travel agencies
The charge authorization form has unique fields for each business. On the other hand, the charge is also not the same and the merchant might need extra information pertaining to the business at times. This form is helpful to those merchants who are dealing with travel agencie. It has placeholders to include passenger data and corresponding charges.
7. Third party credit card authorization form
The advantage with this business is it is possible to issue authorization form for third party credit cards. In such instances, it is mandatory to collect as many information as possible about card and its holder. Suppose the card is used at a hotel during room checkout, guest information and tariffs will have to be included too. This will allow the merchant to charge the party accordingly without any hassle.
Download the document and edit it by adding the company details and that’s it. It can be issued to the guests without a second thought on the type of credit card.
8. Charge authorization form for payment by remittance slip
The payments to the merchant need not be in the form of cash or electronic transfer always. The advantage that the merchants give is the ease in the mode of payment. Suppose the user wants to make the one time payment or recurring payment, it can be done by visiting the merchant office or through remittance slips. If the removable remittance slip is used, this authorization form will be of use.
9. Charge authorization form with driving license
Charge authorization form is an agreement between the merchant and the user that the former does not charge the latter unnecessarily and the latter agrees to pay charges as agreed to the former. For extra protection, it is a good idea to include driving license information of the user. By this way, the merchant gets safer and realizes the genuineness of the user. As a result, the payments are not missed by the user and there is a good rapport created between both the parties.
10. Charge authorization form for donations
If the credit card user is an organization that accepts gifts from the donors, then this template is important. It gathers details about type of donation and credit card information.
Why do you need these credit card authorization templates?
Using a template gives the merchant an understanding of information required from the user and it also enhances the overall efficiency. The merchant does not have to spend time in creating a form. Yet another reason is that these templates remind the merchant about the market scenario and ways to escape from fraud by collecting all necessary information from user. This builds trust as well as keeps the business going.
The use of credit card is unlimited due to the flexible payment options available in the market for majority of the products. With the use of templates, it allows merchants to keep track of charges for a particular user and ensures transparency in the charges incurred for transactions.