New RBI regulations on recurring billing agreements in India
Last updated: October 6, 2021
On October 1, 2021, per requirements from the Reserve Bank of India (RBI):
- Recurring 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 the issuer at least 24 hours before a recurring payment, so the issuer can notify you before the actual charge.
- Recurring payments over ₹5,000 will require additional authentication, which might require customer interaction.
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.||We'll email you so you’re notified as we migrate billing agreements. We’ll explain any actions that we might need you to complete as part of this process.|
What will happen 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.