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Authorization To Keep Credit Card On File for the United States

Authorization To Keep Credit Card On File Template for United States

A legally binding document used in the United States that allows businesses to securely store a customer's credit card information for future transactions. This document ensures compliance with PCI DSS requirements and relevant federal regulations, including the E-SIGN Act and FCBA. It provides protection for both the business and the customer by clearly outlining the terms of storage, usage limitations, and security measures implemented to protect the stored information.

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Authorization To Keep Credit Card On File

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What is a Authorization To Keep Credit Card On File?

The Authorization To Keep Credit Card On File document has become increasingly essential in modern business operations where recurring or future payments are common. This document addresses the need for secure and convenient payment processing while ensuring compliance with U.S. federal regulations and industry standards. It provides businesses with proper authorization to store credit card information, protecting them from potential disputes while giving customers peace of mind regarding the security of their financial information. The document is particularly valuable for businesses with subscription models, recurring billing cycles, or those seeking to streamline payment processes for regular customers.

What sections should be included in a Authorization To Keep Credit Card On File?

1. Customer Information: Basic identifying information about the cardholder including name, address, contact details

2. Credit Card Information: Secure section for credit card details including card type, number, expiration date, and security code

3. Authorization Statement: Clear statement of what the customer is authorizing, including the purpose and scope of the authorization

4. Terms and Conditions: Basic terms governing the authorization, including security measures, liability, and cancellation rights

5. Signature Block: Space for customer signature, printed name, and date of authorization

What sections are optional to include in a Authorization To Keep Credit Card On File?

1. Recurring Payment Details: Section specifying frequency, amount, and duration of recurring charges when authorization is for recurring payments

2. Maximum Charge Limit: Section specifying the maximum amount that can be charged in a single transaction or time period

3. Expiration Date of Authorization: Section defining the specific date or conditions under which the authorization expires

What schedules should be included in a Authorization To Keep Credit Card On File?

1. Privacy Policy: Detailed explanation of how credit card information will be stored, protected, and used in compliance with PCI DSS

2. Fee Schedule: Comprehensive list of potential charges, fees, and payment terms that may be applied under the authorization

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Ƶ

Document Type

Authorization Form

Cost

Free to use
Clauses





















Industries

PCI DSS: Payment Card Industry Data Security Standard - Sets requirements for storing, processing, and transmitting credit card information, including security standards for protecting cardholder data

FTC Regulations: Federal Trade Commission regulations governing fair and accurate credit transactions and consumer protection guidelines

E-SIGN Act: Electronic Signatures in Global and National Commerce Act - Establishes requirements for electronic signatures and records, ensuring validity of electronic authorizations

FCBA: Fair Credit Billing Act - Outlines consumer rights regarding billing errors and dispute resolution procedures

GLBA: Gramm-Leach-Bliley Act - Establishes financial privacy rules and requirements for safeguarding sensitive data

State Laws: Various state-specific requirements for handling credit card information, including data breach notification laws and consumer protection regulations

ADA: Americans with Disabilities Act - Ensures the authorization process is accessible to all users

CCPA: California Consumer Privacy Act - Provides additional privacy requirements for California residents, including data handling and disclosure requirements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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