Stored Cards and Recurring Payments
Advance Billing Notice
An advance billing notice is a reminder that a recurring or renewal charge will occur soon.
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Stored Cards and Recurring Payments Terms
Card-on-file, CIT/MIT, subscription billing indicators, and stored-credential concepts.
Educational information only. ShouldEye does not provide legal, banking, or individualized financial advice. Dispute rights, deadlines, and outcomes depend on your payment method, card network, issuer, processor, jurisdiction, and the facts of your case. Legal Disclaimers
25 published definitions in this topic.
Stored Cards and Recurring Payments
Automatic Card Update
Automatic card update refreshes stored card details when issuers reissue numbers or expiry dates.
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Card on File
Card on file (CoF) means a merchant or wallet stores a payment credential for future charges.
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Card Vault
A card vault is a secure system that stores card credentials or tokens for later use.
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Credential on File
Credential on file is another name for a stored payment credential retained for future transactions.
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Credential Storage
Credential storage is how payment credentials are retained—vaulting, tokenization, and access controls.
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Customer-Initiated Transaction
A customer-initiated transaction (CIT) is a payment the cardholder actively starts.
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Expired Card Recovery
Expired card recovery is the playbook for fixing declines caused by outdated expiration data on stored credentials.
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Failed Recurring Payment
A failed recurring payment is a subscription or MIT renewal that did not authorize successfully.
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Initial Recurring Transaction
An initial recurring transaction is the first payment that establishes a recurring series and usually stores the credential.
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Merchant-Initiated Transaction
A merchant-initiated transaction (MIT) is a payment the merchant starts using a stored credential without the shopper actively checking out.
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One-Click Payment
One-click payment lets a returning customer pay with a stored credential with minimal extra steps.
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Payment Vault
A payment vault securely stores payment methods—cards, and sometimes bank or wallet credentials—for reuse.
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Recurring Billing Descriptor
A recurring billing descriptor is the statement text that identifies a subscription or recurring merchant charge.
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Recurring Payment Consent
Recurring payment consent is the customer’s agreement to future scheduled or ongoing charges.
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Recurring Transaction
A recurring transaction is a repeated charge on a schedule using a stored credential.
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Recurring Transaction Indicator
A recurring transaction indicator is a network/processing flag marking a payment as recurring or stored-credential related.
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Stored Credential
A stored credential is payment-credential data kept for subsequent customer- or merchant-initiated transactions.
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Subscription Authorization
Subscription authorization is the authorization (and related consent) that establishes or renews a subscription charge.
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Subscription Cancellation Procedure
A subscription cancellation procedure is the process a customer uses to stop future recurring charges.
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Subscription Payment
A subscription payment is a recurring charge for ongoing access to a product or service.
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Subscription Payment Retry
Subscription payment retry is automatic or smart reattempting of a failed subscription renewal.
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Subsequent Recurring Transaction
A subsequent recurring transaction is a later charge in an established recurring series.
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Unscheduled Card on File
Unscheduled card on file (UCoF) is a merchant-initiated charge using a stored credential that is not on a fixed recurring schedule.
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Variable Recurring Payment
A variable recurring payment is a repeating charge whose amount can change between cycles.
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