Visa released updated requirements for trial subscriptions effective April 18, 2020.
These changes may impact you if you are offering "free trials or introductory offers as part of an ongoing subscription service."
➡️ Please read this document from Visa for more details
Stripe has also released a helpful outline of the updated requirements.
➡️ Please visit Stripe's guide for more details.
Please continue reading for more information on how Voma automatically supports these requirements.
1. Obtain express consent
Voma payment pages automatically include the following details for subscription offers:
- Details of the goods and services provided.
- The start and end date of the subscription.
- The length and price of the free or promotional trial period.
- The cost of the subscription after the trial period ends.
- The number of reminders that will be sent prior to billing (note that a trial-ending reminder email is required at least 7 days before the end of a trial period).
- The cancellation policy, including the steps a customer must follow to cancel a subscription.
- The date on which the customer can expect to be billed, for example, if it will be the same date of each month.
2. 7-day email reminder
Voma automatically sends a 7-day email reminder to customers who sign up for a subscription with a free trial longer than 7 days.
3. Enhanced Receipts
Voma automatically includes the following details in email receipts that are sent out to subscription customers:
- Length of the trial period, including clear disclosure that the customer will be charged unless they take steps to cancel any subsequent transactions.
- Transaction amount and date for the initial transaction (even if no amount is due) and for subsequent recurring transactions.
- A link to a mechanism that enables the customer to cancel the subscription online or via SMS/text message.
4. Digital Cancellation for Customers
Voma automatically provides a customer portal for your customers to manage and cancel their subscriptions.
➡️ Please visit our guide for more details about how the customer portal works.
