Amazon has brought back its popular monthly Prime subscription in India. Earlier this year, the Reserve Bank of India’s new guidelines called for the implementation of an additional factor of authentication (AFA) for processing recurring online transactions. Amazon was offering only three months and annual Prime subscription till now, but the monthly Rs. 129 Prime subscription plan is now live on the company’s site. Of course, the monthly subscription comes with some caveats and cannot be purchased by all electronic means.
The e-commerce giant has now listed three subscription options for Chieftain Membership. The annual plan is priced at Rs. 999, while the three-month plan is priced at a discounted rate of Rs. 329 instead of Rs. 387. Both these plans can be purchased from heroine site through all electronic means. Rupee. 129 per month Prime subscription plan is also listed back on Amazon, but can only be purchased via credit card or select debit cards.
Amazon Terms and Conditions Page It is said that Rs. 129 Monthly Prime membership can be purchased only through banks that have complied with RBI’s e-mandate guidelines. Not all banks that have complied with the changes may not be able to process any request for automatic payment. For those unaware, the new rule calls for the implementation of an additional factor of authentication (AFA) to process recurring online transactions.
Due to new RBI guidelines, Amazon did too closed New members sign-up for a free trial of Amazon Prime until further notice. That change is still in effect.
RBI’s new mandate asks banks to deploy one-time AFA for recurring transactions up to Rs. 5,000 Transactions above that cut-off will require AFA for each payment. The new guidelines were first introduced in 2019 to prevent consumers from making unnecessary recurring payments on their cards. After several delays, the framework finally came into force on 1 October.