New RBI regulations on autorenewal billing agreements in India
Last updated: December 3, 2021
On October 1, 2021, 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.
GoDaddy is actively working with our payment processing partner to make this transition as seamless as possible:
|Update systems to support the registration of billing agreements as you make purchases with any new credit or debit cards on godaddy.com.||This feature is still being worked on.|
|Migrate and register existing billing agreements.||Unfortunately, existing billing agreements cannot be migrated. As soon as our systems are updated, we’ll email you to explain what actions are needed to register your new billing agreement and protect your renewing products using our autorenewal feature.|
What will happen to my current subscriptions starting 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.
Who can I contact with questions?
Reach out to our GoDaddy Guides at 040 67607600.