Automatic Billing Updateris a free service participating merchants can use under certain conditions to help reduce declined transactions due to account changes—like new credit or debit card numbers and expiration dates—for card-on-file transactions and automated payments.
2. What are card-on-file transactions and automated payments?
Card-on-file transactions are payments processed using a card number you’ve stored with a merchant, service provider or website by creating an account and saving your credit or debit card information:
- Transportation services (ex. Uber or Lyft)
- Clothing websites
- Online retailers (Amazon, Wayfair)
- Movies, music, and eBook download services (Netflix, Pandora)
- Online payment services (PayPal, Digital Wallet)
Automated payments are recurring payments you set up with a merchant or service provider:
- Phone Service
- Cable or television service
- Homeowners’ association dues
- Music subscriptions
- Magazine subscription
- Radio subscriptions
- Gym membership
- Anti-Virus software
- Insurance premiums
- Recurring charitable donations
3. Will all of my credit or debit card payment information be automatically updated?
No. Automated Billing Updater is only available to participating merchants, and they can choose the frequency at which they check for updated payment information. To avoid late payments and penalties, you must take steps to ensure your credit or debit card information is updated.
4. What if I don’t update my credit card information?
Automatic payments will fail and merchants may charge you late fees. Most merchants will contact you by phone, email, or text to notify you that your payment did not go through. If they are unable to collect your payment, your services may be canceled and your account may be reported to collections, which could be detrimental to your credit.
5. Is there a fee for the Mastercard Automatic Billing Updater service?
No, there is no fee for this service.
6. Can I opt out of the Mastercard Automatic Billing Updater?
Yes. If you would like to opt out of this service, please call Mission Fed at 800.500.6328 or visit any branch.
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