A credit card authorization form is an essential part of the business payment process. The form is used as an agreement between a business and the customer for one-time or recurring payments and can be used to guard customers from credit card fraud. Usually, a credit card authorization form gives businesses permission to charge a customer’s credit card without him or her being present, and this works for a certain amount of time.This is especially helpful for businesses that offer recurring service plans to customers.
One-time Credit Card Authorization: a basic credit card processing form that is only valid for one-time payment between the merchant and the customer.
Recurring Credit Card Authorization: accessing a customer’s credit card for a defined period of time with mutual agreement.
General required fields of a credit card authorization form include:
Cardholder information: the name, address, billing address, phone number, email, telephone number.
Customer agreement: the customer needs to confirm that he or she is the legal cardholder and that the customer grants permission to the business for charging his or her credit card.
Signature: the customer needs to provide a legal signature after reading the above agreement.
Credit card information: credit card type, credit card number, expiration month and year, security code and the cardholder’s signature.