Amazon Prime Subscription, I believe, is one of the few subscriptions in India, having a huge user base. It not only offers the OTT service called “Prime video,” but the subscription also includes Prime Music, Prime Reading, Free and Faster Deliveries, and other benefits too. For such a popular service, Amazon is making some changes in its plans. Due to the RBI mandate, Amazon ditches the One Month Prime Subscription Plan and also cannot offer free trials to the new users.
Previously, the Prime Subscription plans started from INR 129. Now, if you want to subscribe as a new user or renew, you can only pay INR 329 for three months or INR 999 for a one-year subscription. Additionally, new members can’t sign-up for Free Trials. Amazon said all these restrictions are temporary until further notice.
Amazon also updated its support page with the new notice:
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. You can continue enjoying Prime membership benefits by renewing/signing up for the Three Month or Annual Prime Membership.
What is the RBI mandate?
RBI set new guidelines and asked banks and financial institutions to implement an additional factor of authentication (AFA) to process recurring payments. That means the auto-payments to mobile, utility bills, and other subscriptions need another additional factor of authentication. They should not simply auto deduct from your debit or credit card.
Initially, RBI announced these new guidelines in August 2019 and later extended the date to September 30 2021.
So that’s been it. Thank you for reading, and do share the article if you get a bit piece of information. Also, keep an eye on this space for more relevant updates. Stay safe, and we hope to see you around.
