Whatever payment is done through cards, you can call it recurring credit, credit processing, autopay or recurrent payment; regardless of what you call it the point is that the customer needs to provide the vendor with all the necessary information but before that they need to agree upon a payment method that works for both of them. Usually it is either a debit card or a credit card that they use to pay. However, if the customer is not present and you need to charge them then you need to have their bank information so that you can get the money that they owe you; along with all of that you also need to make sure you get the signed document that grants you permission to deduct a specific amount of money for subscriptions on a monthly basis i.e. the recurrent payment.
In order to have all of these details, you need to have a form or something concrete to keep in your record so that if there is any trouble later on you have the customer’s signed document as a proof of their acceptance of the deal. This document is known as credit card authorization form PDF. There are a lot of templates available online and since it is a company document you need it to be in a prim and proper form to work with it. Following are a few mistakes you should avoid regarding credit authorization.
Not Updating The Info
If you think you have all the necessary information with you regarding a customer’s credit. You need to know that things keep on changing so make it a company policy to update things on regular intervals. Set the intervals and then keep on updating or it will cause you losses.