Mastercard Automatic Billing Updater
Automatic Billing Updater
Beginning October 1, 2017, Mastercard will require all financial institutions to participate in an Account Updater Service known as Mastercard Automatic Billing Updater.
The service allows participating merchants to receive your updated card information when you receive a new debit card for any reason (expired card, lost or stolen card, etc.) This allows automatic payments to continue without interruption when you get a replacement debit card. This service applies to recurring payment merchants only. Examples include transportation services (Uber, Lyft), online payment services (PayPal, Digital Wallet) and gym memberships.
To participate in this service, no action is necessary.
You may opt- out of the Mastercard Automatic Biller Updater service at any time. Click the Contact us link below and in the comment section, indicate that you would like to opt- out of the Mastercard Automatic Billing Updater service, and include the last 6 digits of each card you would like to opt- out. Once received, we will mail a confirmation of your opt-out request.
Please note: If you choose to opt- out of this service, you will be responsible for providing your new card information to participating merchants when the above situations occur.
MASTERCARD AUTOMATED BILLING UPDATER FAQ’S
What is Mastercard Automatic Billing Updater?
Mastercard’s Automatic Billing Updater is a service participating merchants can use to retrieve cardholder account changes, like new debit card numbers, to ensure as little disruption as possible for your account-on-file transactions and automated payments.
When will this service be available to cardholders?
The Mastercard ABU Service is available for Debit Cards in October 2017.
What are card-on-file automated payments?
Account-on-file transactions are payments processed using a card number you’ve stored with a merchant or service provider:
- Websites with whom you’ve created an account and saved your credit card information:
- Transportation services (ex., Uber or Lyft)
- Clothing websites
- Online retailers (Amazon, Wayfair, etc.)
- Movies/music/eBook download services (Netflix, Pandora, etc.)
- Online payment services (PayPal, Digital Wallet, etc.)
Will all of my 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 check with your merchant to ensure your card information is updated.
Why is this service being offered to cardholders?
The Mastercard Automatic Billing Updater service is required by Mastercard for all consumer and business credit and debit cards.
What are the benefits of the Mastercard Automatic Billing Updater service?
- Reduces “card not present” declines
- Helps to ensure on-time bill payment
- Provides better Customer Service
- Prevents late fees and service disruption
Can customers decline this service?
Yes. A customer can request to opt-out of this service by completing a form in each branch or using the “Contact us” feature of the bank’s website.