Online commerce platform Amazon has discontinued offering monthly Prime membership in India. As per its update support page, the e-tailer will only offer three-month and annual Prime membership benefits. The new rules adhere to a mandate issued by the Reserve Bank of India (RBI). They have been effective since April 27.
“Effective 27 April 2021, we have temporarily discontinued: (i) new member sign-ups for Amazon Prime Free Trial and (ii) new member sign-ups for Monthly Prime Membership until further notice”, the company says in its support page.
The cost of Amazon Prime subscription starts at Rs 129 per month. While the three-month and annual subscriptions cost Rs 329 and Rs 999, respectively. With the new RBI mandate, Rs 129 pack will no longer be available. Users will have to choose from Rs 329 and Rs 999 Prime membership subscription plans. Amazon has suspended free trials as well.
The new RBI mandate requires banks and financial institutions to implement an additional factor of authentication (AFA) in order to process recurring online transactions. RBI has set September 30 as the deadline for its implementation. In its support page, Amazon says that effective April 1 2021, banks may not be able to process any new requests for automated payments on your credit / debit cards.
However, they can “continue enjoying Prime membership benefits by renewing / signing up for the Three Month or Annual Prime Membership”.
As per RBI guidelines, transactions up to Rs 5,000 will require AFA authentication. The initial deadline for the framework implementation was August 2019. But it was extended to September 30, 2021.
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