Google will not store your bank card details from January 1, 2022: Here’s how it will impact you
Google informed, starting January 1, 2022, none of its platforms will save bank card details such as card number, expiry date, among others. The change comes following the Reserve Bank of India’s (RBI) guidelines for Payment Aggregators (PA) and Payment Gateways (PG) announced in September.
Google has announced new changes for auto-payments in India starting January 2022. The tech giant informed, starting January 1, 2022, none of its platforms will save bank card details such as card number, expiry date, among others. The change comes following the Reserve Bank of India's (RBI) guidelines for Payment Aggregators (PA) and Payment Gateways (PG) announced in September.
RBI's new card storage regulations suggest that no entity or merchant will be able to store card detail starting from January 1, 2022. Only card issuers and networks will be allowed to store card details or card-on-file (CoF) from January 1. Additionally, RBI has also extended tokenization of CoF by card issuers.
Disabling auto payments
In an official statement, RBI said, "with effect from January 1, 2022, no entity in the card transaction or payment chain, other than the card issuers and card networks, should store the actual card data. Any such data stored previously will be purged."
With new regulations coming into effect soon, users will see their monthly recurring payments getting declined. In such instances, users will need to make the payment manually and enter card details every time. For instance, users who make a monthly payment for their Google Work, Google Play, Google One accounts, will now need to make a manual payment every month.
To vote for other categories, click here
This change will impose a problem for users who opt for monthly auto payments for various services. Google said that with the user's authorisation, they can save the "card details in a format that complies with RBI regulations and keeps sensitive card details secure."
To continue using the same Visa or Mastercard issued debit or credit card to make payments after December 31, 2021, users will need to re-enter their card details and must make at least one purchase or manual payment before the end of 2021. The company said, "if you don't do so, your card will no longer appear in your account, and you'll have to re-enter your card details to use it again."
For RuPay, American Express, Discover, or Diners Card users, Google said it won't store card information after December 31, 2021. The reason is the "card storage as per the new format isn't supported for these card networks yet. By January 1, 2022, you must provide card details every time you make a manual payment."
Published:Thu, December 02, 2021 1:57pm