Recurring Payments in India
UPDATE 12/12/2022
The RBI has further delayed enforcement of the Card Tokenization regulation from December 31, 2021 to June 30, 2022.
Overview
The Reserve Bank of India (RBI) has issued a directive of processing e-mandates for future recurring payment requests with the scope originally covering cards and wallets but most recently Unified Payments Interface (UPI) transactions as well.
The details of the new requirements mean that an Additional Factor of Authentication (AFA) on the registration and first transaction (up to ₹15,000 before the next ch