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Recurring payments after RBI change
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Recurring payments after RBI change

nvmenvme Member

So, as you all are aware that recurring payments are being cancelled from today and new norms are being introduced, what is the alternative to this for Indians?
I have lot of recurring payments setup with different service providers outside India and they are getting declined, the latest was Frantech. What is the work around for this?

Comments

  • deankdeank Member, Troll

    Nope. I wasn't even aware.

  • manual payments ??

    Thanked by 1BlaZe
  • BlaZeBlaZe Member, Provider

    Manual payments at the moment.

    Just maintain a spreadsheet, btw, almost every other service provider (not only hosting companies) will definitely send you emails before your due date. If not then just put them in a spreadsheet & do it manually.

  • nvmenvme Member

    Manual payments work, but it is possible to miss them while on vacation/ outings.

  • comXyzcomXyz Member

    @nvme said:
    Manual payments work, but it is possible to miss them while on vacation/ outings.

    I provide reminder service for $50 per month. But you need to remember to pay for the reminder service.

  • vyas11vyas11 Member
    edited October 1

    OP is mistaken and op (post) is misleading.
    There are two parts to the new regulations:

    a.
    Any recurring transaction, domestic or international, should not exceed 5,000 INR or over 65 US Dollars at current rate.

    b. Transactions (read: in particular International transactions) that do not have 2FA (currently sms based OTP for most banks/cards) will most likely get cancelled.

    In case of OP, it was most likely the latter case. Anything more than 65 US dollars monthly is not quite LE, is it? All in all, while making payment by Stripe, Paddle, in some cases Paypal… the transaction may get cancelled if there is no secondary authentication.
    Overall I do not see much problem unless one was using non kosher method, intentionally* or otherwise. (There was that Manish guy who wanted to pay for services using bitcoins back in the day, when the Law prohibited it. That was intentional. )

    Different companies are taking different measures to tackle this. Most are large, LE providers will of course have to rely on approach taken by their respective payment processors.

    • Cloudflare has put renewal on hold i.e they are still figuring it out

    • Google cloud sent me a notification asking me to digitally verify some details. Link at bottom of this post.

    • Paypal still has one credit card of mine that does not have 2 FA. I made a test purchase on it at midnight (when the new rule kicked in) and transaction went through.

    What is the recourse?

    • You can top up your accounts by adding credit for 3 or 4 months’ service while the dust settles down.

    • Great opportunity to cancel those idlers

    • finally, yes, go in manual mode

    There’s of course that friend or cousin who can sign up and pay on your behalf. But we don’t do that, do we?

    Cheers

    @deank

    The invoice is nigh

    Edit: google cloud notification I received

    https://i.ibb.co/Gd96tqP/5-A5329-F3-39-B1-4-BCD-A854-F6-ECB3-A2049-A.jpg

    Thanked by 3ViridWeb vpsGOD JasonM
  • nvmenvme Member

    @vyas11 said:
    OP is mistaken and op (post) is misleading.
    There are two parts to the new regulations:

    a.
    Any recurring transaction, domestic or international, should not exceed 5,000 INR or over 65 US Dollars at current rate.

    b. Transactions (read: in particular International transactions) that do not have 2FA (currently sms based OTP for most banks/cards) will most likely get cancelled.

    In case of OP, it was most likely the latter case. Anything more than 65 US dollars monthly is not quite LE, is it? All in all, while making payment by Stripe, Paddle, in some cases Paypal… the transaction may get cancelled if there is no secondary authentication.
    Overall I do not see much problem unless one was using non kosher method, intentionally* or otherwise. (There was that Manish guy who wanted to pay for services using bitcoins back in the day, when the Law prohibited it. That was intentional. )

    Different companies are taking different measures to tackle this. Most are large, LE providers will of course have to rely on approach taken by their respective payment processors.

    • Cloudflare has put renewal on hold i.e they are still figuring it out

    • Google cloud sent me a notification asking me to digitally verify some details. Link at bottom of this post.

    • Paypal still has one credit card of mine that does not have 2 FA. I made a test purchase on it at midnight (when the new rule kicked in) and transaction went through.

    What is the recourse?

    • You can top up your accounts by adding credit for 3 or 4 months’ service while the dust settles down.

    • Great opportunity to cancel those idlers

    • finally, yes, go in manual mode

    There’s of course that friend or cousin who can sign up and pay on your behalf. But we don’t do that, do we?

    Cheers

    @deank

    The invoice is nigh

    Edit: google cloud notification I received

    https://i.ibb.co/Gd96tqP/5-A5329-F3-39-B1-4-BCD-A854-F6-ECB3-A2049-A.jpg

    See, that's the thing. It is not possible to setup recurring payments with Paypal for international merchants, since they do not have 2FA.
    They should have atleast allowed an option to opt out, just enforcing it on everyone makes no sense. 😁 If there is fraudulent transaction on my CC, I can simply report it to bank and get reversed.

    Few of my transactions are above $65, but most are under that price.

  • JasonMJasonM Member
    edited October 2

    recurring payments with EU/US payment gateways (direct) are not affected (yet). My client's Godaddy site builder plan got auto-renewed on 1st Oct, 2021 night. He is Indian customer, paying via Godaddy Europe in EUR currency.

    Can't say about payments made via Paypal.

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