At present, auto debit facility is available for OTT platforms like Airtel, Netflix, Hotstar, Amazon Prime, Zee5 which can be used by users for 6 months.
Netflix Amazon Prime And Hotstar
The Reserve Bank of India has announced to increase the deadline to make auto payments mandatory. RBI had earlier announced a change in the rules for automatic payment facility for works like utility bills and announced the Additional Factor of Authentication (AFA) which was to be implemented from April 1. But now this has been extended for 6 months.
It is believed that this has been done because banks and merchants are currently working on implementing the RBI guidelines. Increasing the deadline of the new rule has brought relief to the merchant as well as the customers as banks started sending messages to customers about the cancellation of the automatic utility bill transaction from their card from April 1. Will go and they will have to register again for this.
Let us know that in the present time, auto debit facility is provided for OTT platforms like Airtel, Netflix, Hotstar, Amazon Prime, Zee5 and other things in which the direct payment is deducted from the customer’s account. But under the new rule, banks will have to inform the customer about the payment of bills on a regular basis and it can be paid only after approval from the customer. In such a situation, the payment of bills will not be done automatically but will be done only after verification from the customer.
Increased limit of auto bill payment
The Reserve Bank of India has increased the limit of contactless card payment and auto bill payment through card and UPI from Rs 2000 to Rs 5000 from January 1. Its main objective is to make digital transactions simple and secure.
Additional factor authentication required
If we talk about the rules brought by the Reserve Bank of India, according to the new guidelines, banks will have to send ‘one-time password’ to customers for payment of more than Rs 5,000. After this, payment will be made only after the approval of the customer. Its main purpose is to make all transactions more secure.
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