If you’ve been thinking about purchasing an Amazon Prime subscription, this is good news for you. Several months after it was canceled at the demand of the Reserve Bank of India, Amazon Prime has reinstated its most affordable monthly subscription option, which costs Rs 129 per month.
The use of an additional factor of authentication (AFA) for recurring online payments was mandated by the new RBI rules. The Rs 129 plan was removed from Amazon’s list shortly after it was discontinued, leaving just the three-month plan and the annual plan. However, the plan has since been reinstated, although with a few restrictions.
Consequently, if you are new to the subscription industry, you will now have a choice between three alternatives when you visit the Amazon Prime membership page. Amazon has now offered three subscription levels, including a Rs 129 monthly plan, a Rs 329 three-months plan, and a Rs 999 yearly plan. The monthly plan costs Rs 129, the three-month plan costs Rs 329, and the yearly plan costs Rs 999.
Particularly noteworthy is that Amazon has cut the price of the three-month plan from Rs 387, which was previously available. This is when things become interesting. While new customers may purchase the yearly and three-month plans using whichever electronic means they want, the Rs 129 monthly plan can only be purchased using credit cards or certain debit cards, according to the service provider.
On its FAQ page, Amazon specifies that the Rs 129 monthly plan may only be purchased using debit and credit cards issued by banks that have met with the new Reserve Bank of India criteria for recurring payments. New member sign-ups for Amazon Prime free trial have also been suspended till further notice, according to Amazon.
“Please be advised that beginning of 1 October 2021, your bank may be unable to handle any requests for automated payments on your credit/debit cards unless it conforms with the Reserve Bank of India’s e-mandate standards. As a result, we have temporarily suspended new member sign-ups for the Amazon Prime Free Trial until further notice. You may continue to enjoy the benefits of Prime membership by manually renewing/signing up for the Monthly, Three-Month, or Annual Prime Membership plans available here. “Effective October 1, 2021, the changes made pursuant to this notification will override any conflicting positions in the Prime Terms and Conditions listed below,” Amazon states.
The Reserve Bank of India had declared the new mission in August of this year. However, the framework was eventually broadened to include transactions via the Unified Payments Interface (UPI), which was previously only relevant to cards and wallets.