New RBI regulations on autorenewal billing agreements in India
Last updated: March 11, 2022
On October 1, 2021, the Reserve Bank of India (RBI) enforced new regulations that require us to regain your permission to auto-renew your products, and then register your agreement in a new industry-wide platform.
Unfortunately, this means we can’t migrate your previous auto-renew agreements. We’re actively working on updating our systems so you can turn on auto-renew for new purchases and existing subscriptions.
Once our systems are ready, you can turn on auto-renew in the cart when purchasing a new product or in your account for existing products. If your card is authorized for recurring billing, your subscriptions will continue to renew as usual.
We’ll notify all customers in India via email when this solution is ready.
What happened to my current subscriptions on October 1, 2021?
Due to the RBI regulations, your upcoming autorenewal payments will be declined. To protect your renewing products, you must manually submit payment for your subscriptions.
How do I manually submit payment for a subscription?
Learn how to manually renew your products.
What are the new regulations?
Per requirements from the Reserve Bank of India (RBI):
- Autorenewal billing agreements must be registered in a new industry-wide platform, which will store all the country's e-mandates.
- Once a new billing agreement is registered:
- Businesses will notify your card issuer at least 24 hours before a recurring payment, so the issuer can notify you before the actual charge.
- When you receive notification of an autorenewal between ₹5,000 and 1 LAKH, your issuing bank will prompt you to complete an additional authentication step. To protect your products, please complete this step within 24 hours. Otherwise, your bank might decline our attempts to charge your card.
- You will need to manually submit payment for any autorenewals over 1 LAKH.
Who can I contact with questions?
Reach out to our GoDaddy Guides at 040 67607600.