Google announces change in online, credit card and ATM payments
Google has informed users that from January 1, 2022, it will no longer be able to save customer card details such as card number and expiration date in the current format. This is because Google must adhere to the Reserve Bank of India (RBI) guidelines for Payment Aggregators (PA) and Payment Gateways (PG). The change is significant because many users have a card number registered to their Google Work or Google Play account to make monthly payments for subscription services.
The change is due to new regulations on the storage of cards from the Reserve Bank of India (RBI). The Reserve Bank of India (RBI) has ordered that no entity or merchant, other than card issuers and card networks, store card details – or registered card (CoF) – from January 1 2022.
Simultaneously, it also extended the tokenization of CoF by card issuers. “As of January 1, 2022, no entity in the card transaction or payment chain, other than card issuers and card networks, should store actual card data. All of this previously stored data will be purged, ”the RBI said in a circular. The new rules have also meant that many users have had their monthly recurring payments declined or canceled. For users who have saved their card information in order to pay for their Google One subscription or Google Cloud business accounts, this could pose new problems. Google says that in order to continue using the same debit or credit card issued by Visa or Mastercard to make payments after December 31, 2021, they will need to re-enter their card details and make at least one purchase or manual payment before the transaction. end. of 2021. “If you don’t, your card will no longer appear in your account and you will have to re-enter your card details to use it again,” the company added. Meanwhile, for RuPay, American Express, Discover or Diners Card users, the company noted, “We will not store your card information after December 31, 2021, because storing the card in the new format n is not supported for these card networks. Again. By January 1, 2022, you must provide your card details each time you make a manual payment.
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