Due to the order of the Reserve Bank of India (RBI) from October 1, the auto payment service is being discontinued. An additional AFA ie Addition Factor Authentication process has been added by RBI to make such payments. In such a situation, it is important for those using the auto payment service to know the new rules.
In today’s era, every second and third people use auto payment service for Netflix, Amazon Prime or DTH recharge including credit card payment, UPI payment. For these, RBI has made changes in the rules for auto debit payment. About which it is very important for them to know. Due to this change, these people will not be able to recharge and may be deprived of services like OTT.
Fact, due to the order of the Reserve Bank of India (RBI) from October 1, the auto payment service is being discontinued. An additional AFA ie Addition Factor Authentication process has been added by RBI to make such payments. In such a situation, it is important for those using the auto payment service to know the new rules. So that you do not miss the recharge. Otherwise your OTT platforms will stop working. The new rules of RBI will be applicable across the country from 1 October 2021.
What is Additional Factor Authentication (AFA)
After the order of RBI, Additional Factor Authentication has been added in Auto Payment. Meaning, before auto payment, you will be given information about auto payment from the OTT platform and bank. If you want to continue with the recharge, you have to allow auto payment. Till now the message did not come before auto payment. Let us tell you that the AFA rule was to be implemented from 1 April 2021. But, later it was given a relaxation of 6 months by RBI.
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