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Google announces changes for automatic payments in India
December 01, 2021
Google has informed clients that from January 1, 2022, it will not be able to save client card details like card number and expiry date in the current configuration. This is on the grounds that Google has to comply with the Reserve Bank of India’s (RBI) rules for Payment Aggregators (PA) and Payment Gateways (PG). The change is significant in light of the fact that numerous clients have a card number saved to their Google Work record or Google Play record to make regularly scheduled payments for subscription-based services.
The change comes because of the Reserve Bank of India (RBI) new card storage regulations. The Reserve Bank of India (RBI) has coordinated that no entity or merchant, other than card issuers and card networks, should store card details or card-on-file (CoF) from January 1, 2022. At the same time, it has additionally broadened the tokenization of CoF via card issuers.
“With effect from January 1, 2022, no entity in the card transaction or payment chain, other than the card issuers and card networks, should store the actual card data. Any such data stored previously will be purged,” the RBI had said in a circular. The new rules have additionally implied that numerous clients have seen their monthly recurring payments get declined or canceled.
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