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This is where RBI's (central bank of India) e-mandate regulations are very useful, Now Amazon has to route the subscription (recurring-payments) to the issuer (
by Abishek_Muthian 5y ago
This is where RBI's (central bank of India) e-mandate regulations are very useful, Now Amazon has to route the subscription (recurring-payments) to the issuer (bank) with explicit permission from the subscriber which are authenticated using MFA, Deductions for subscription are informed 24 hours prior by bank SMS with a cancellation link for the e-mandate. For amount > INR 5000 MFA is required for every subscription transaction.
So if I want to cancel the payment to Amazon Prime subscription, All I have to do is click the link from the bank's SMS. The only drawback for now is that not all international services adhere to this e-mandate regulations and so automatic subscription payments is impossible for such services (One time payment would still work).