![]() Do not keep canceled authorization forms for more than three months in anticipation of possible chargebacksįree Credit Card Authorization Form Templates.Use a secure file transfer application if you have a client portal. Your emails and even the PDF file itself should always be encrypted or password protected (when possible) before sending out a copy to your customer or relevant financial institution.Make sure to keep a physical log with a detailed record of personnel who go in and out of the secured storage. Only authorized persons whose job descriptions require use of these completed forms should be allowed to access these records.Files should be secured with a lock regardless of where or how it is saved. Store completed authorization forms in a secure and restricted area, such as a safe room or filing cabinet.This means you cannot ask for this information on your payment authorization form, or store this information anywhere―on paper or digital―after getting authorization from the customer. Do not keep a record of your customers card verification value (CVV) or CVV2.Here are the PCI guidelines for storing credit card authorization forms: Note that payment processors and merchant account providers expect businesses to remain PCI-compliant or be assessed for noncompliance fees that start at $19.95 per month. This includes policies on how to store and manage credit card authorization forms. While someone buying a car may be willing to provide all of this information, it may be overkill for a smaller purchase.Įvery business that accepts noncash transactions is expected to observe Payment Card Industry Data Security Standard (PCI DSS) compliance standards to avoid liability in case of data breach. More information offers businesses more security and validation, but bear in mind how collecting this information may impact the customer experience. Some include optional fields specific to the product or service. The information being asked for on credit card authorization forms is more or less the same, but not all information is mandatory. If you have tablets set up at your place of business, customers can easily fill out the forms. Now, small business technology is advancing to the point where you can offer digital credit card authorization forms in person, too. They can print it out and sign or sign digitally with a tool like DocuSign or HelloSign. For in-person transactions, it's a good idea to have several hard copies available.įor transactions that don't happen in person, you can mail a physical copy or email a digital copy of the credit card authorization form, so the customer can fill it out and send it back on their own time. You can use credit card authorization forms in hard copy or digitally. How to Use a Credit Card Authorization Form A credit card authorization form may also deter customers from pursuing chargebacks in the first place. This means that you're more likely to win the case and keep the money-unfortunately, however, there's no way to get your time back. When you use a credit card authorization form, just like in the case of fraud for CNP transactions, it helps validate the legitimacy of the charge. You could get removed from your merchant account and hurt your chance at future loan approvals. If you get too many, your business accounts and financial reputation could be at stake. For starters, they cost an average of $240 for every $100 in chargebacks. It's in every business's best interest to avoid chargebacks. You'll need to have signed credit card authorization forms for: If you're still unsure if your business is a fit, you can analyze your transaction types instead. Provides online subscriptions, services, and utilities.Provides recurring services such as caterers and event organizers with regular clients.Lets customers order products in advance, such as custom-made items or special-order spare parts.Provides customers with services in advance, such as gyms and health clubs (memberships), hotels and Airbnbs (incidentals), and rental shops (cars, bikes, equipment).Sells large-ticket items such as cars, furniture, and computers either one-time or in installments.So, you might use these forms if your business: A credit card authorization form keeps a customer's card on file so you can charge a credit card at a future date without requiring customer permission every time. ![]() When to Use a Credit Card Authorization FormĬredit card authorization forms are used for recurring payments and card-not-present (CNP) transactions.
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