The software/EventOffice in conjunction with CardConnect, can store your customers credit card for later use, making the payment and billing process more convenient for your customers. If you plan to use CardConnect, you must follow the best practices below.
- Disclose to cardholders how those credentials will be used.
- Obtain cardholders’ consent to store the credentials.
- Notify cardholders when any changes are made to the terms of use.
- Inform the account issuer that payment credentials are now stored on file, either by processing a payment or a $0 account verification.
- Identify the initiator (cardholder or merchant) and frequency (one-time or scheduled) of the transactions with appropriate indicators when using stored credentials.
- Provide proactive notification of future payment transactions and ability to cancel a subscription or recurring payment.