If you are planning to take Amazon Prime membership then this news is for you. Months after being shut down at the behest of the Reserve Bank of India, Amazon Prime has brought back its cheapest monthly subscription scheme of Rs 129. In the new guidelines of RBI, it was asked for the implementation of an extra factor of certification (AFA) for recurring online payments.
Soon after discontinuing the monthly scheme, Amazon had only three months scheme and annual scheme but now the Rs 129 scheme has been added back in the list with some caveats. So if you are new to the subscription business, you will now get three options when you open the Amazon Prime subscription website. Amazon has now listed three subscription schemes including Rs 129 monthly scheme, Rs 329 three month scheme and Rs 999 annual scheme.
amazon reduced the rates of three months scheme
Notably, Amazon has reduced the rates of the three-month scheme, which was earlier priced at Rs 387. While new customers can buy annual and three-month schemes using all electronic modes, the Rs 129 monthly scheme can only be purchased through credit cards or select debit cards.
Amazon has noted on its FAQ page that the Rs 129 monthly scheme can be purchased using debit and credit cards of only those banks that have complied with the new RBI guidelines on recurring payments. . Amazon has also discontinued new member sign-ups for free testing of Amazon Prime until further notice.
New members will not be able to sign-up for the free trial
Amazon says, “Please note that with effect from October 1, 2021, your bank may not be able to process any request for automatic payment on your credit/debit card unless it complies with RBI’s e-mandate guidelines Is. Therefore, we have temporarily closed new member sign-ups for Amazon Prime free trial until further notification. You can continue to enjoy Prime subscription benefits here by manually renewing / signing up for a monthly, three-month or annual subscription. Effective October 1, 2021, updates under this notice will remove any conflicting positions in the Prime T&C set out below.”
The new mandate was announced by RBI in August 2019. This was initially applicable to cards and wallets but later the structure was extended to cover Unified Payments Interface (UPI) transactions as well.
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