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Important updates to Customer Terms and the Mastercard Automatic Billing Updater (ABU) program and Visa Account Updater (VAU) Program

1. Changes to the Customer Terms

We are making changes to our Customer Terms. These changes will take effect from 30 September 2024.

Summary of change:

Insertion of Clause 16.17A

“Mastercard Automatic Billing Updater (ABU) and Visa Account Updater (VAU)

ABU and VAU programs apply to MasterCard and Visa debit and credit cards. These programs automatically update any card-on-file information you have with participating merchants who are enrolled to the programs for your recurring and one-time payments. When we reissue or replace your card, your new card details will be automatically updated with the participating merchants. This will allow your recurring transactions with these participating merchants to continue, unless you had reported your previous card as lost, stolen or compromised by fraud.  You agree to have your card enrolled for ABU or VAU. Please refer to www.sc.com/sg/important-information/abu-vau/for further details regarding the use of ABU/VAU.”

 

2. The new Mastercard Automatic Billing Updater (ABU) Program and Visa Account Updater (VAU) Program

As part of our ongoing efforts to ensure you enjoy a seamless experience with our products and solutions, all our cardholders will be automatically enrolled into the Mastercard Automatic Billing Updater (ABU) and Visa Account Updater (VAU) programs with effect from 30 September 2024, or such other later date that we may specify.

What is the Mastercard Automatic Billing Updater (ABU) and Visa Account Updater (VAU) program?

This program aims to help clients who have recurring payments, or their card details saved with participating merchants to enjoy a seamless transition when their credit and/or debit card held with the Bank is reissued or replaced.

How does ABU/VAU work and what are the benefits?

Cardholders who have recurring payment transactions or frequently shop online on e-commerce platforms may opt to save their card details with the merchants for a smoother experience. In the event of any change to the card details, clients are usually required to update the new card details with all the merchant(s). Where cardholders have opted to save their card details with participating merchants, ABU/VAU offers convenience to them at no cost as it allows the new card details to be updated with the participating merchants on their behalf, thus preventing/reducing transaction declines (due to changes in card details).

What are some examples of card-on-file setup?

a. Payments processed using card details that you have stored with merchant(s) or service provider(s), for example:

  • Online retailers (e-commerce platforms)
  • Ride hailing or food delivery apps

b. Recurring payments you may have set up with a merchant or service provider using your card details:

  • Insurance
  • Telecommunications providers
  • Utilities

Is ABU/VAU applicable to all Standard Chartered cards?

Yes, all Standard Chartered Mastercard and Visa credit and debit cards will be automatically enrolled to the ABU or VAU programs with effect from 30 September 2024, or such other later date that we may specify.

Are the ABU/VAU programs applicable to cards which have not been activated?

No, the ABU/VAU programs are only applicable to activated cards.