Credit Card Authorization Agreement: Fill & Download for Free

I had a meal at Mi Pueblito Restaurant in Gaithersburg, Maryland. Before ordering the meal, I noticed a Mastercard sign on the door. At the end of meal, I presented my Mastercard to pay for meal, but was informed that the POS machine is down, although they normally accept Mastercard. I did not have any cash with me on that day.Based on what I know about Mastercard merchant agreements, I suggested the waitress/cashier call the acquirer bank to perform a voice authorization. However, she has no idea how to do that. She also didn’t speak any English, so she couldn’t do that even if she knew the merchant code (we’d been communicating via Google Translate). Then I suggested an “imprint”, as each merchant is supposed to have an imprint machine when their POS is offline. The cashier does not know where their imprint machine is.Finally I offered a “paper authorization”, and wrote down the following on a piece of paper: “I hereby authorize Mi Pueblito Restaurant to charge my Mastercard number 528891XXXXXXXXXX expiry MMYY fourteen dollars and 75 cents.” followed by my signature and date. The cashier accepted it.I doubted whether the charge could go through, since all I wrote was the credit card number but no CVV code. A week later, I checked my credit card statement and the charge was there. It seems that their manager found a way to charge my card. I still feel bad for forgetting to tip, though.Leaving without paying is theft and thus illegal. “Paper authorization” technically isn't a valid form of payment, but it's legal as long as the cashier agrees to accept it.

I used to work at one of the big rental car companies. Keeping the name secret.You are being charged for a few things here.The damage to the vehicleLoss of use feesAdministrative feesThere are some thing that can help you. If you paid using a credit card and did not opt for the insurance, file a claim with the credit card company. Most will cover based on their own policies. Some require that you file a regular insurance claim.You would not be able to buy that car for the $8,000 that they claim. Alot of your claim is loss of use and administrative fees. Furthermore the vehicle is likely worth a lot more than that.Ask for a breakdown of the claim such as damage, fees etc. Also most insurance companies and credit card companies will not pay for loss of use.Loss of use is the going rate for the vehicle while it was out of commission. Insurance companies require that a certain amount of fleeet must be utilized (Called a utilization log) and it simply isn't provided to them.In your rental agreement you likely agreed to all the fees associated with the account. The rental agency may attempt to withdraw the money from the credit card on file. Even if your close the card there is still an open authorization on the account and the rental company could likely use that.FILE A CLAIM WITH THE CREDIT CARD AND PERSONAL INSURANCE.

How Credit Card Processing Works: Key PlayersTIPS: Hire the service of a pro to save you the stress, dedication and partial frustration that comes with improving your credit score but you can also improve your credit score points from 100 points to 500 points at once. It is advised that when hiring a professional you should seek a profound and experienced one. I used the services of a computer geek to fix my bad credit and get my score upgraded all within a week. Just search for George Gibbs here on quora and contact via the email in his bio and he would be happy to assist you. He is tested and trusted service.Let’s take a look at each of the key players involved in authorizing and settling a credit card transaction, and then we’ll move on to examine each process individually in more detail. The key players involved in authorization and settlement are the cardholder, the merchant (business), the acquiring bank (the merchant’s bank), the issuing bank (the cardholder’s bank), and the card associations (Visa and MasterCard.)CardholderIf you have a credit or debit card (as most of us do), you’re already familiar with the role of the cardholder. But just to be thorough — a cardholder is someone who obtains a bankcard (credit or debit) from a card issuing bank. They then present that card to merchants as payment for goods or services.MerchantTechnically, a merchant is any business that sells goods or services. But, only merchants that accept cards as a form of payment are pertinent to our explanation. So with that said, a merchant is any business that maintains a merchant account that enables them to accept credit or debit cards as payment from customers (cardholders) for goods or services provided.Acquiring Bank (Merchant’s Bank)An acquiring bank is a registered member of the card associations (Visa and MasterCard). An acquiring bank is often referred to as a merchant bank because they contract with merchants to create and maintain accounts (called merchant accounts) that allow the business to accept credit and debit cards. Acquiring banks provide merchants with equipment and software to accept cards and handle customer service and other necessary aspects involved in card acceptance. The acquiring bank also deposits funds from credit card sales into a merchant’s account.Interestingly enough, many merchants don’t recognize their acquiring bank as the primary provider of their merchant account. Acquiring banks are playing an increasingly hands-off role as the bankcard system evolves. Acquiring banks often enlist the help of third-party independent sales organizations (ISO) and membership service providers (MSP) to conduct and monitor the day-to-day activities of their merchant accounts.Issuing Bank (Cardholder Bank)As you’ve probably guessed, an issuing bank issues credit cards to consumers. The issuing bank is also a member of the card associations (Visa and MasterCard).Issuing banks pay acquiring banks for purchases that their cardholders make. It is then the cardholder’s responsibility to repay their issuing bank under the terms of their credit card agreement.Card Associations (Visa and MasterCard)Visa and MasterCard aren’t banks and they don’t issue credit cards or merchant accounts. Instead, they act as a custodian and clearing house for their respective card brand. They also function as the governing body of a community of financial institutions, ISOs and MSPs that work together in association to support credit card processing and electronic payments. Hence the name, “card associations.”The primary responsibilities of the Card Association are to govern the members of their associations, including interchange fees and qualification guidelines, act as the arbiter between issuing and acquiring banks, maintain and improve the card network and their brand, and, of course, make a profit. That last one has become even more important now that Visa and MasterCard are public companies.Visa uses their VisaNet network to transmit data between association members, and MasterCard uses their Banknet network.