Debit, credit card automatic payment rule to change from April 1: All you need to know

The central bank had earlier stated that recurring or automatic payments using debit cards, credit cards, Unified Payment Interface (UPI) and other prepaid instruments (PPIs) will need a mandatory additional factor of authentication from April 1. Here is all you need to know:

The automatic or recurring payment facility for mobile recharges, utility and other bills is likely to be stopped from April as the Reserve Bank of India (RBI) has made an additional factor of authentication (AFA) mandatory after March 31. The central bank had earlier stated that recurring or automatic payments using debit cards, credit cards, Unified Payment Interface (UPI) and other prepaid instruments (PPIs) will need mandatory AFA from April 1. Under the new set of guidelines, banks will be required to notify customers in advance about any upcoming recurring payment and the transaction would then be carried forward after getting consent from the concerned customer.