Following the guidelines issued by the Reserve Bank of India, Google has now changed the rules for making online payments. Google has informed users that from January 1, 2022, they will not be able to save customer card details such as card number and expiry date in the current format. This is because Google has to comply with the Reserve Bank of India (RBI) guidelines for Payment Aggregators (PAs) and Payment Gateways (PG). This change is also necessary because a lot of information is saved in the Google account, due to which the risk of leaking of information remains.
This change has come due to the new card storage rules of the Reserve Bank of India (RBI). The Reserve Bank of India (RBI) has directed that no entity or merchant other than the card issuer and the card network should store card details – or card-on-file (CoF) – with effect from January 1, 2022. RBI in a circular had said that the new rules also mean that many users have seen their monthly recurring payments getting rejected or cancelled. Because of which security is even more important.
will affect them
After the change in the rules made by Google on January 1, it will be on those who make online payments. This new rule will apply to all Google services such as Google Ads, YouTube, Google Play Store, and other payment services.
Now payment will have to be made under the new rule
If you use Visa or MasterCard, you will need to save the card details in the new format. You have to make the same manual payment with your existing card details. That is, the number of times you make a manual payment, you will have to save the card details. Your card details will not be saved by Google after December 31, 2021. In such a situation, from January 1, 2022, you will have to enter the card details for every manual payment.