“With effect from April 27, 2021 we have temporarily suspended the following: (i) New member registrations for the free Amazon Prime trial version and (ii) New member registrations for monthly Prime membership until further notice”, it says on the support Side of the company.
The cost of the 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, the Rs 129 package is no longer available. Users must choose between Prime subscription plans for Rs 329 and Rs 999 Prime. Amazon has also suspended free trials.
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The new RBI mandate provides for banks and financial institutions to implement an additional authentication factor (AFA) in order to be able to process recurring online transactions. The RBI set September 30th as the deadline for implementation. On its support page, Amazon states that as of April 1, 2021, banks may no longer be able to process new requests for automated payments on your credit / debit cards.
However, you can “still enjoy the benefits of Prime membership by renewing / signing up for three-month or annual Prime membership”.
According to RBI guidelines, transactions up to Rs 5,000 require AFA authentication. The original deadline for implementing the framework was August 2019, but it has been extended to September 30, 2021.