We all must have used a simple form at least once when we didn’t have a credit card. That is what is called the credit card authorization form. This form is a key part of any financial transaction, and hence, we’ll explore what information to ask for in a credit card authorization form.

What Is a Credit Card Authorization Form?

A credit card authorization form is a financial agreement between the user, the merchant, and the credit card company. It allows the merchant to use an applicant’s credit card to transfer money, whether you’re physically present or not. This practice happens in many places, some of which we’ve covered below.

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Credit Card Authorization Form: The Use Cases

It is used across industries whenever a card is not available for swiping. The following are some use cases:

• Hotels and travel booking

• Vehicle rentals

• Subscriptions

• Online shopping

In a B2B scenario, a credit card authorization form comes in handy. Businesses use multiple tools, service providers, and vendors. Hence, they sign a credit card authorization form for cardless payments that occur at a predetermined frequency.

What to Have in a Credit Card Authorization Form?

The credit card authorization form has the following details:

• Name: This is to establish the identity of the user.

• Billing Address: This is not a required field, but whenever it is asked, it must include the zip code.

• Card Details: Here, three details are needed - credit card number, expiration date, and the three-digit CVV. The CVV cannot be asked because it is a private detail. But, if the transaction will not proceed without an OTP, asking CVV can be done. Otherwise, the customer will enter their CVV to finish a transcription.

• Card Type: It is unnecessary to ask for the credit card type (Visa, MasterCard, American Express) because the credit card number can automatically detect it. This adds another step to the credit card authorization form fillout process, which is unnecessary.

  

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• Amount: The user shares how much money they want to spend.

  

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• Purpose of Charge: This is not always needed. It could be shown as a drop-down menu of options via multi-select buttons or in short text.

• Your Signature: The most important element is the signature. Uploading an image or doc or manually signing in white space is how the customer acknowledges the legal terms and conditions to proceed with the transaction.

Once the credit card authorization form is filled out, an OTP exchange could further secure the transaction. In every subsequent interaction, the OTP exchange would keep the customer aware that the credit card authorization is in place.

Make the Perfect Credit Card Authorization Form

The credit card authorization form is one of finance's most widely used forms. Its primary function is to make transitions quick and reduce the dependency on a physical card. Remember the case study above: to build the fastest credit card authorization form.

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