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Credit Card Payment Authorization Form Template for Hong Kong

A legally binding document used in Hong Kong that authorizes a merchant or service provider to process credit card payments either on a one-time or recurring basis. The form complies with Hong Kong's Payment Systems and Stored Value Facilities Ordinance and Personal Data (Privacy) Ordinance, ensuring secure handling of credit card information and clear authorization parameters. It includes detailed cardholder information, payment terms, and explicit consent for processing transactions, while incorporating necessary data protection measures and compliance with Hong Kong Monetary Authority guidelines.

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What is a Credit Card Payment Authorization Form?

The Credit Card Payment Authorization Form is a critical document used in Hong Kong business operations where credit card payments need to be processed securely and legally. It serves as formal documentation of a cardholder's consent to allow a merchant or service provider to charge their credit card, either for one-time or recurring payments. This document is essential for businesses operating under Hong Kong's financial regulations, particularly the Payment Systems and Stored Value Facilities Ordinance and Personal Data (Privacy) Ordinance. It helps protect both the merchant and the cardholder by clearly documenting payment terms, authorization limits, and data handling procedures. The form is particularly important for recurring billing arrangements and situations where the cardholder is not physically present for the transaction.

What sections should be included in a Credit Card Payment Authorization Form?

1. Company Information: Details of the merchant/company receiving the payments

2. Cardholder Information: Full name, contact details, and billing address of the cardholder

3. Credit Card Details: Secured section for credit card number, expiration date, and security code

4. Payment Authorization: Clear statement of authorization for charging the card, including maximum amount and frequency

5. Duration and Frequency: Specification of whether this is a one-time or recurring payment authorization

6. Data Protection Statement: Statement on how credit card information will be stored, used, and protected

7. Authorization Signature: Space for cardholder signature and date of authorization

What sections are optional to include in a Credit Card Payment Authorization Form?

1. Multiple Card Authorization: Additional section for authorizing multiple cards as backup payment methods

2. Special Instructions: Section for any specific payment instructions or conditions

3. Third Party Authorization: Used when the cardholder authorizes payments for a third party

4. International Payment Declaration: Required when processing international payments with potential foreign transaction fees

What schedules should be included in a Credit Card Payment Authorization Form?

1. Schedule of Payments: Detailed breakdown of payment amounts and dates if recurring payments are authorized

2. Terms and Conditions: Detailed terms including liability, disputes, and cancellation procedures

3. Privacy Policy: Detailed privacy policy regarding handling of credit card and personal information

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Credit Policy

Sector

Banking

Cost

Free to use

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