Friday, 24 March, 2023

As platforms violate RBI rules, many recurring payments across OTTs and cloud storage fail

<p>Recurring payments on websites, such as OTT platforms, cloud storage, and subscription-based services, continue to fail in large numbers. Reason being, several businesses have yet to comply with the RBI&#39;s new rules for such transactions, despite being alerted four months ago. Some international merchants are refusing to comply with RBI&#39;s e-mandate rules because the returns on investment are not worth the trouble, says banks, payment aggregators, and merchants.</p>