May 19, 2021, 04:00AM ISTSource: ANI
Video streaming platform Amazon Prime will now only offer a three-month subscription and an annual subscription to users. As per Mashable, the tech giant has taken the decision due to the Reserve Bank of Indiaís recent mandate on recurring transactions. Amazon will now just offer a three-month membership and a yearly subscription for Prime Video. The move would be a blow for early adopters who could get the premium service out earlier for as low as Rs 129 a month. Mashable cited RBI guidelines in a Gadgets360 report. The new rules from RBI require banks and monetary organizations to present an additional step of authentication for processing recurring online transactions. According to the RBI order, “arrangements/practices not compliant with AFA would not be continued beyond 31st March 2021.”
