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|MRAA Rewards Credit Card Auto Processing Form|
The Automatic Credit Card Charges Form accessible through this page contains personal information about the consumer, along with sensitive credit card information (number, expiration date, security code). Therefore, while the form may be permissible, you, as the dealer, will need to make sure that your business has a Red Flags document protection process and strictly enforces this process to reduce the risk of liability. This kind of form would be a gold mine for identity thieves or anyone tempted to steal. Also, this form may violate your merchant agreement if the merchant agreement expressly forbids charges without specific authorization from the consumer. Lastly, you should have a process to address situations where consumers dispute charges incurred in this fashion.
The process and proper disclosure that the MRAA recommends includes:
MRAA’s disclosure: Before implementing any processes, please refer to the business’s merchant agreement’s TOS to verify that this type of activity is allowed. MRAA makes no representations nor warrants that this form is permissible for use in your state.Download the form now.