The world's leading issuers of debit and credit cards - Visa, Mastercard and American Express - have taken steps to protect the interests of their customers. Now sellers of goods and services on the Internet using payments from the cards of these operators are required to indicate that we are talking about a subscription. The decision was taken as a result of cooperation with consumer protection authorities, including the European Commission and the Dutch Consumer and Markets Authority.
Approximately 10% of consumers in Europe have experienced unwanted subscriptions online. At the same time, sellers of services and goods often use various manipulative technologies, which give the prospective subscriber the feeling that this is a one-time, cheap or even free offer. However, after making a purchase, people are convinced that this is a long-term subscription, and money for an unnecessary service or product is regularly automatically deducted from their cards. Unsubscribing from such subscriptions is usually extremely difficult: you need to make a lot of phone calls, send a lot of emails before the service is turned off and the money stops withdrawing. Now consumers are better protected from unwanted spending and unnecessary subscriptions.
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Publication Date: 26.01.2023
